MFDA announces disciplinary proceeding in respect of Jewel Henricks

TORONTO, Aug. 7, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Jewel Mary Henricks ("Respondent"). In its Notice of Hearing dated July 6, 2020, 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: In June 2017, the Respondent accepted a $5,000 cheque from a client to place in a "gifting program", which the Respondent deposited into her personal bank account, thereby engaging in personal financial dealing with a client that gave rise to a conflict of interest that the Respondent did not disclose to the Member or address by the exercise of responsible business judgment influenced only by the best interests of the client, contrary to the Member's policies and procedures and MFDA Rules 2.1.4, 2.1.1, 1.1.2, and 2.5.1.

Allegation #2: On or around July 7, 2017, the Respondent deposited proceeds of redemptions from the account of a client at the Member totaling $3,508.82 into her personal bank account, thereby engaging in personal financial dealings with a client which gave rise to a conflict of interest that she did not disclose to the Member or address by the exercise of responsible business judgment influenced only by the best interests of the client, contrary to the Member's policies and procedures and MFDA Rules 2.1.4, 2.1.1, 1.1.2, and 2.5.1.

Allegation #3: Between February 2016 and February 2018, the Respondent falsely recorded the home address of two clients using her own business address on three client account application forms and falsely recorded the email addresses of three clients using her own personal email address on five client account application forms, contrary to the Member's policies and procedures and MFDA Rules 2.1.1, 1.1.2, and 2.5.1.

Allegation #4 Commencing on or about September 21, 2018, the Respondent failed to cooperate with MFDA Staff's investigation into her conduct, contrary to section 22.1 of MFDA By-law No. 1.

The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on September 8, 2020 at 10:00 a.m. (Pacific), 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 issues. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact hearings@mfda.ca to obtain particulars. The Hearing on the Merits will take place in Vancouver, British Columbia.

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 conducted business in the Prince George, British Columbia 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 81,000 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