Mr. Patel entered into a settlement agreement with the Mutual Fund Dealers Association of Canada (MFDA) for non compliance of four MFDA rules. As a result of these MFDA rule breaches, the Investigation Committee determined Mr. Patel contravened the CPABC Code of Professional Conduct as follows:
R201.1 - Maintenance of the good reputation of the profession
R205 - False or misleading documents and oral representations
The Committee recommended Mr. Patel:
- accept a reprimand; and
- pay expenses of $1,875.
In making its recommendation, the Committee took into account the sanctions that the MFDA had levied on Mr. Patel.