TORONTO, May 30, 2016 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons (Misconduct) in connection with a disciplinary hearing held in Toronto, Ontario on April 21, 2016 in the matter of Sherry L. McKenzie (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated June 8, 2015.
In its Decision and Reasons (Misconduct) dated May 26, 2016, the Hearing Panel made the following findings of misconduct against the Respondent:
- Between October 16, 2009 and June 15, 2012, she altered and re-used 26 original or photocopies of previously-used account forms in order to process transactions in client accounts, and obtained and maintained 7 blank or partially complete pre-signed account forms in client accounts, contrary to MFDA Rule 2.1.1.
- Commencing in November 2013, she has failed to attend for an interview with Staff for the purpose of investigating the Respondent's conduct, contrary to section 22.1 of MFDA By-law No. 1.
Submissions with respect to penalty will take place on a date to be determined and announced accordingly.
Copies of the Decision and Reasons (Misconduct) and the Notice of Hearing are available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons (Misconduct), the Respondent conducted business in the Cambridge, Ontario 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 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
For further information: Charles Toth, Director, Litigation, 416-943-4619, [email protected]