MFDA Hearing Panel approves three settlement agreements

TORONTO, Oct. 1, 2021 /CNW/ - On September 30, 2021, a three-person Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") heard the following three settlement proceedings, the particulars of which are:

Bryan Brooks Church

A hearing in the matter of Bryan Brooks Church ("Church") was held on September 30, 2021 at which the Hearing Panel approved the settlement agreement dated July 30, 2021 ("Settlement Agreement") between Staff of the MFDA and Church, as a consequence of which the following sanctions were imposed:

• a fine in the amount of $17,500;
• costs in the amount of $2,500; and
• shall in future comply with MFDA Rule 2.1.1.

In the Settlement Agreement, Church admitted that:

a) between September 23, 2014 and February 28, 2021, he obtained, possessed, and in some instances used to process transactions, 25  pre-signed account forms in respect of  17 clients, contrary to MFDA Rule 2.1.1; and

b) between April 10, 2014 and February 28, 2021, he altered and used to process transactions, 60 account forms in respect of 48 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1.

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, Church conducted business in the Souris, Manitoba area.

Teagan Laine Kliever

A hearing in the matter of Teagan Laine Kliever ("Kliever") was held on September 30, 2021 at which the Hearing Panel approved the settlement agreement dated July 30, 2021 ("Settlement Agreement") between Staff of the MFDA and Kliever, as a consequence of which the following sanctions were imposed:

• a fine in the amount of $14,500;
• costs in the amount of $2,500; and
• shall in future comply with MFDA Rule 2.1.1.

In the Settlement Agreement, Kliever admitted that:

a) between April 10, 2018 and October 16, 2018, she obtained, possessed, and in some instances used to process transactions, 7 pre-signed account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; and

b) between February 21, 2018 and February 28, 2019, she altered and used to process transactions, 26 account forms in respect of 22 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1.

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, Kliever conducted business in the Souris, Manitoba area.

William James Treble

A hearing in the matter of William James Treble ("Treble") was held on September 30, 2021 at which the Hearing Panel approved the settlement agreement dated July 30, 2021 ("Settlement Agreement") between Staff of the MFDA and Treble, as a consequence of which the following sanctions were imposed:

• a fine in the amount of $14,000;
• costs in the amount of $2,500; and
• shall in future comply with MFDA Rule 2.1.1.

In the Settlement Agreement, Treble admitted that:

a) between February 15, 2018 and March 6, 2019, he obtained, possessed, and used to process transactions, 11 pre-signed account forms in respect of 8 clients, contrary to MFDA Rule 2.1.1; and

b) between January 21, 2015 and March 28, 2019, he altered and used to process transactions, 15 account forms in respect of 13 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1.

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, Treble conducted business in the Crystal City, Manitoba 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 80,000 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