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ARTICLE · 20 FEBRUARY 2017

MFDA Imposes Fine Against Former Mutual Fund Salesperson

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On January 11, 2017, the Mutual Fund Dealers Association of Canada (MFDA) commenced a disciplinary proceeding in respect of the Respondent, Jason Perry Boldt.

CanadaCriminal Law
Andrew Pozzobon
Andrew Pozzobon
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On January 11, 2017, the Mutual Fund Dealers Association of Canada (MFDA) commenced a disciplinary proceeding in respect of the Respondent, Jason Perry Boldt.

The Respondent was registered as a mutual fund salesperson and he had been working for Global Maxfin Investments Inc. between 2011 and 2014, during which time he recommended that eight clients lend a total of $1.3 million to Spectra Investment Corp. The Respondent had promised 10 per cent annual interest payment and their funds would be used for construction-related activities. In total, the clients lost more than half the money they invested.

On January 10, 2017, the hearing took place in Edmonton, Alberta before a three-person Hearing Panel of the MFDA's Prairie Regional Council. Prior to the hearing, the parties filed an Agreed Statement of Facts (found here) in which the Respondent admitted to facts constituting contraventions of MFDA By-laws, Rules or Policies, for which he could be penalized by a

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