TORONTO, July 19, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Michelle Morgan Poirier (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated January 8, 2016.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing in this proceeding will take place on July 19, 2016, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be heard, at the Delta Edmonton Centre Suites, located at 10222 102 Street, Edmonton, Alberta.
The subject matter of the proposed settlement agreement concerns matters for which the Respondent 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 an allegation that between August 15, 2013 and December 10, 2013, the Respondent engaged in discretionary trading in a client's account by processing four (4) trades totaling approximately $30,600, contrary to MFDA Rules 2.3.1 and 2.1.1.
The settlement hearing will be open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the settlement agreement, then a copy of the decision of the Hearing Panel and the settlement agreement will be made available to the public.
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 83,000 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