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 matters.
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.
For further information:
416-943-4672 or [email protected]