TORONTO, Jan. 11, 2012 /CNW/ - The MFDA today announced that it has
commenced disciplinary proceedings in respect of Stanley Wayne Parke
(the "Respondent"). MFDA staff alleges in its Notice of Hearing that
the Respondent engaged in the following conduct contrary the By-laws,
Rules or Policies of the MFDA:
Allegation #1: Between November 2002 and 2006, the Respondent engaged in securities
related business that was not carried on for the account and through
the facilities of the Member by selling or facilitating the sale of
shares in a private company to 59 individuals, 13 of whom were clients
of the Member, through another company owned or controlled by the
Respondent, contrary to MFDA Rules 1.1.1(a) and 2.1.1.
Allegation #2: Between November 2002 and 2006, the Respondent had and continued in
another gainful occupation that was not disclosed to and approved by
the Member by operating a company through which he sold shares in a
private company to clients and other individuals, contrary to MFDA
Rules 1.2.1(d) and 2.1.1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Prairie Regional Council on
February 13, 2012 at 10:00 a.m. (Mountain) in the MFDA hearing room
located Suite 850, 800-6th Avenue SW, Calgary, Alberta. The purpose of the first appearance is to
schedule the date for the commencement of the hearing on its merits and
to address any other procedural matters, and will be open to the
public, except as may be required for the protection of confidential
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 125 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
For further information:
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