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25.01.2019 23:25:00
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MFDA issues Notice of Settlement Hearing in respect of Sandra Kolendreski
TORONTO, Jan. 25, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") announced that it has issued a Notice of Settlement Hearing dated January 2, 2019 regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Prairie Regional Council.
The settlement agreement will be between Staff of the MFDA and Sandra Lynn Kolendreski ("Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
The proposed settlement agreement concerns allegations that the Respondent:
a) | on or about October 3, 2016, cut and pasted a client signature from an account form previously signed by a client onto a new account form, and used the new account form to process a transaction, contrary to MFDA Rule 2.1.1; |
b) | between March 2011 and June 2016, altered 13 account forms in respect of eight clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and |
c) | on or about January 15, 2016, obtained and possessed two pre-signed account forms in respect of one client, contrary to MFDA Rule 2.1.1. |
The settlement hearing will take place on February 25, 2019, commencing at 10:00 a.m. (Central), or as soon thereafter as the matter can be held, in the hearing room at the Delta Bessborough, 601 Spadina Crescent East, Saskatoon, Saskatchewan.
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent conducted business in the Prince Albert, Saskatchewan 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 82,000 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
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