TORONTO, July 10, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Mark Richard Wagner (the "Respondent"). In its Notice of Hearing dated June 28, 2019 ("Notice of Hearing"), 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 October 2010 and December 2016, the Respondent altered and, in some instances, used to process transactions, 11 account forms in respect of 7 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #2: Between September 2013 and November 2015, the Respondent obtained, possessed, and in some instances, used to process transactions, 8 pre-signed account forms in respect of 7 clients, contrary to MFDA Rule 2.1.1.
Allegation #3: In April 2013, the Respondent submitted 2 Limited Trading Authorization forms to the Member for processing with respect to 2 clients on which he falsely indicated that he had witnessed the clients' signatures, contrary to the Member's policies and procedures, and MFDA Rules 2.5.1, 1.1.2, and 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on August 28, 2019 at 10:00 a.m. (Pacific), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact [email protected] to obtain particulars. The Hearing on the Merits will take place in Vancouver, British Columbia.
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 Kelowna, British Columbia 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 81,000 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