TORONTO, May 13, 2022 /CNW/ – Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Anthony Peter Chiaravalloti (the “Respondent”) by Notice of Hearing dated September 22, 2021 (“Notice of Hearing”).
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, a settlement hearing will take place electronically by videoconference before a Hearing Panel of the MFDA’s Central Regional Council on May 17, 2022, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be held. Members of the public who would like to obtain further particulars should contact [email protected].
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations that the Respondent:
- in October 2015, entered into a referral arrangement with a third party and earned compensation for referring a client to purchase syndicated mortgage investments, thereby participating in a referral arrangement to which the Member was not a party, contrary to the Member’s policies and procedures, and MFDA Rules 2.4.2, 2.1.1, 2.5.1, and 1.1.2;
- between August 2017 and June 2019, engaged in unapproved outside business activities without the prior approval of the Member, contrary to the Member’s policies and procedures and MFDA Rules 1.3.2, 1.2.5, 2.1.1, 2.5.1, and 1.1.2; and
- between March 2016 and March 2019, provided false or misleading statements to the Member on annual compliance questionnaires, contrary to MFDA Rule 2.1.1.
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.
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