TORONTO, Feb. 8, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Michelle Morgan Poirier (the "Respondent"). In its Notice of Hearing dated January 8, 2016, Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between August 15, 2013 and December 10, 2013, the Respondent engaged in discretionary trading in client MC's account by processing four trades totaling approximately $30,600, without client MC's authorization, contrary to MFDA Rules 2.3.1 and 2.1.1.
Allegation #2: Between December 6, 2013 and December 10, 2013, the Respondent failed to comply with her reporting obligations to the Member by failing to report to the Member within two business days, a written a complaint made by client MC on December 6, 2013 concerning discretionary trades processed by the Respondent, contrary to MFDA Rule 1.2.2(b) and MFDA Policy No. 6, subsections 4.1(a) and (b)(i).
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Prairie Regional Council on March 7, 2016 at 11:00 a.m. (Mountain), in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance will take place in the hearing room at the MFDA offices, located at 800 - 6th Avenue S.W., Suite 850, Calgary, Alberta, and will be open to the public, except as may be required for the protection of confidential matters. The Hearing on the Merits will take place in Edmonton, Alberta at a time and venue to be announced.
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 carried on business in Edmonton, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 99 Members and their approximately 80,000 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
For further information: Charles Toth, Director, Litigation, 416-943-4619, firstname.lastname@example.org; Mark Stott, Vice-President, Prairie Region, 403-215-8329, email@example.com