TORONTO, Dec. 28, 2022 /CNW/ – The Mutual Fund Sellers Affiliation of Canada (the “MFDA”) has commenced disciplinary proceedings in respect of Andrew David Tachauer (the “Respondent”). In its Discover of Listening to dated December 19, 2022 (the “Discover of Listening to”), Employees of the MFDA alleges that the Respondent engaged within the following conduct opposite to the By-laws, Guidelines and/or Insurance policies of the MFDA:
Allegation #1: Between December 2019 and February 2020, the Respondent failed to make use of due diligence to study and precisely report the important details relative to a consumer, opposite to the Member’s insurance policies and procedures and MFDA Guidelines 2.2.1,1 2.1.1, and 1.1.2 (because it pertains to MFDA Rule 2.5.1).
Allegation #2: Between December 2019 and February 2020, the Respondent failed to make use of due diligence to make sure that investments that he beneficial a consumer buy utilizing borrowed monies have been appropriate for the consumer, having regard to the consumer’s Know-Your-Consumer info, opposite to the Member’s insurance policies and procedures and MFDA Guidelines 2.2.1, 2.1.1, and 1.1.2 (because it pertains to MFDA Rule 2.5.1).
Allegation #3: Between December 2019 and February 2020, the Respondent did not replace a consumer’s Know-Your-Consumer info when the Respondent grew to become conscious of a cloth change within the consumer’s info, opposite to the Member’s insurance policies and procedures and MFDA Guidelines 2.2.4(b),2 2.1.1, and 1.1.2 (because it pertains to MFDA Rule 2.5.1).
Allegation #4: In February 2020, the Respondent did not report back to the Member {that a} consumer used borrowed monies to take a position, opposite to the Member’s insurance policies and procedures and MFDA Guidelines 2.1.1, 2.2.1 and 1.1.2 (because it pertains to MFDA Rule 2.5.1).
The primary look on this continuing will happen by teleconference earlier than a Listening to Panel of the MFDA’s Central Regional Council on February 2, 2023 at 11:00 a.m. (Japanese), or as quickly thereafter as the looks could be held, to schedule a date for the graduation of the listening to on the deserves and to deal with some other procedural points. The looks shall be open to the general public, besides as could also be required for the safety of confidential issues. Members of the general public who wish to hearken to the teleconference ought to contact [email protected] to acquire particulars.
A replica of the Discover of Listening to is obtainable on the MFDA web site at www.mfda.ca. Through the interval described within the Discover of Listening to, the Respondent carried out enterprise within the Etobicoke, Ontario space.
The MFDA is the self-regulatory group for Canadian mutual fund sellers, regulating the operations, requirements of apply and enterprise conduct of its Members and their roughly 76,695 Authorized Individuals with a mandate to guard traders and the general public curiosity. For extra details about the MFDA’s criticism and enforcement processes, in addition to hyperlinks to ‘Test an Advisor’ and different Investor Instruments, go to the For Traders web page on the MFDA web site.
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1 MFDA Rule 2.2.1 was amended on December 31, 2021. Because the conduct addressed on this disciplinary continuing pre-dated the modification to this Rule, all contraventions addressed on this continuing that make reference to that Rule concern the model of the Rule that was in impact between December 2019 and December 31, 2021. |
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2 MFDA Rule 2.2.4 was amended on December 31, 2021. Because the conduct addressed on this continuing pre-dated the modification to this Rule, all contraventions addressed on this continuing that make reference to that Rule concern the model of the Rule that was in impact between December 2019 and December 31, 2021. |
SOURCE Mutual Fund Sellers Affiliation of Canada
For additional info: Charles Toth, Vice-President, Enforcement, 416-943-4619, [email protected]
