MFDA Hearing Panel accepts settlement agreement with Leszek Dziadecki

TORONTO, Jan. 19, 2021 /CNW/ - A settlement hearing in the matter of Leszek Dziadecki ("Respondent") was held by electronic hearing today before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

The Hearing Panel accepted the settlement agreement dated January 14, 2021 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:

• a fine in the amount of $7,000;
• costs in the amount of $2,500;
• shall be prohibited from acting as a branch manager or in a supervisory role with a Member of the MFDA for a period of 6 months;
• prior to acting as a branch manager or in a supervisory role in the future, the Respondent shall successfully complete a branch manager's course offered by the Canadian Securities Institute or the Investment Funds Institute of Canada
• shall in the future comply with MFDA Rule 2.1.1.

In the Settlement Agreement, the Respondent admitted that: between August 2013 and August 2018, he obtained, possessed, and in some instances, used to process transactions, 9 pre-signed account forms in respect of 3 clients, 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, the Respondent conducted business in the Mississauga, Ontario 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