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Newmarket financial adviser sanctioned by self-regulatory association

A hearing panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada has fined Juliana Gonzalez, a Sun Life mutual funds sales representative, who admitted she altered account forms without her clients' acknowledgement between March 2009 and September 2016.
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NEWS RELEASE
CNW/MUTUAL FUND DEALERS ASSOCIATION OF CANADA
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TORONTO, Oct. 29, 2018 /CNW/ - On October 25, 2018, a three-person Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") heard the following settlement proceeding, the particulars of which are:

Juliana Gonzalez

A hearing in the matter of Juliana Gonzalez ("Gonzalez") was held on October 25, 2018 at which the Hearing Panel approved the settlement agreement dated August 1, 2018 ("Settlement Agreement") between Staff of the MFDA and Gonzalez, as a consequence of which the following sanctions were imposed:

  • a fine in the amount of $8,500;
  • costs in the amount of $2,500; and
  • in the future shall comply with MFDA Rules 2.1.1.

In the Settlement Agreement, Gonzalez admitted that:

a) between March 2009 and September 2016, she obtained, possessed and in some instances, used to process transactions, 10 pre-signed account forms in respect of nine clients, contrary to MFDA Rule 2.1.1; and
b) between March 2009 and September 2016, she altered seven account forms in respect of six clients by altering information on the account forms without having the clients initial the alterations, 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, Gonzalez carried on business in the Newmarket, 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 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.

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