MFDA announces settlement hearing to take place in respect of Valorie McManes
TORONTO, Sept. 28, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Valorie Jean McManes ("Respondent") by Notice of Hearing dated September 7, 2017.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing will take place on October 5, 2018, commencing at 9:30 a.m. (Mountain), or as soon thereafter as the matter can be heard, in the hearing room at the offices of the MFDA, located at 800 - 6th Avenue S.W., Suite 850, Calgary, Alberta.
The subject matter of the proposed settlement agreement concerns matters for which she may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations that the Respondent:
a) |
between June 2012 and April 2016, obtained, possessed, and used to process transactions, nine pre-signed account forms in respect of four clients, contrary to MFDA Rule 2.1.1; and |
b) |
in September 2015, altered one account form in respect of one client by altering information on the account form without having the client initial the alterations, contrary to MFDA Rule 2.1.1. |
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.
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 Calgary, Alberta 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.
SOURCE Mutual Fund Dealers Association of Canada
Charles Toth, Director, Litigation, 416-943-4619, [email protected]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]
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