Le Lézard
Classified in: Business
Subject: LAW

MFDA announces disciplinary proceeding in respect of Nicholas Del Plavignano

TORONTO, Feb. 8, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Nicholas Del Plavignano ("Respondent"). In its Notice of Hearing dated January 8, 2018, Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:

Allegation #1: On March 29, 2016 and March 30, 2016, the Respondent processed a total of two trades without the authorization of a client, contrary to MFDA Rule 2.1.1.

Allegation #2: On April 4, 2016, the Respondent failed to use due diligence to learn the essential facts relative to a client when he completed the client's Know-Your-Client information on an account form without having met or discussed the information with the client, contrary to MFDA Rules 2.2.1 and 2.1.1.

Allegation #3: On April 4, 2016, the Respondent failed to comply with two Member directives to contact a client to review the client's Know-Your Client information and the suitability of investments in the client's account, contrary to MFDA Rule 2.1.1.

Allegation #4: On April 4, 2016, the Respondent falsely represented to the Member that a client had reviewed and approved the risk tolerance for the client's account, contrary to MFDA Rule 2.1.1.

The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on March 29, 2018 at 9:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The appearance will be open to the public, except as may be required for the protection of confidential matters.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in the Woodbridge, Ontario area.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.

SOURCE Mutual Fund Dealers Association of Canada

These press releases may also interest you

at 07:33
Gazit Globe , a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in urban markets, announced today its financial results for the second quarter and six months ("Period") ended...

at 07:30
A new study shows Montreal's home-sharing economy provides a significant boost to the Quebec economy through Airbnb guest stays. The GLS Réseaux study on behalf of Airbnb reveals that total spending through all Airbnb operations amounted to $653...

at 07:30
The American Council of Engineering Companies Business Insurance Trust (BIT) and Greyling/EPIC Insurance Brokers & Consultants announced today leadership changes within the Trust as well as new Trustee appointments. Current Trustees Robin S....

at 07:30
Halos Insurance, an insurtech founded in Washington, DC, announced its founding team today and disclosed that they have been building an insurance product that is designed to serve the low-risk and accident-free consumers....

at 07:30
FSD Pharma Inc. ("FSD Pharma" or the "Company") (FRA: 0K9) is pleased to announce that its wholly-owned subsidiary, FV Pharma Inc. ("FV Pharma"), a licensed cannabis producer under the Access to Cannabis for Medical Purposes Regulations (the...

at 07:30
Harvest Portfolios Group Inc. ("Harvest") announces the following distributions for Harvest ETF's for the month ending August 31, 2018. The distribution will be paid on or about September 14, 2018 to unitholders of record on August 31, 2018 with an...

News published on 8 february 2018 at 18:22 and distributed by: