TORONTO, April 24, 2012 /CNW/ - The MFDA announced today that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Prairie Regional Council.
The settlement agreement will be between Staff of the MFDA and Stanley Wayne Parke (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
The proposed agreement concerns allegations that 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.
The settlement hearing is scheduled to take place on May 3, 2012 commencing at 10:00 a.m. (Mountain) in the hearing room located at the Calgary TELUS Convention Centre, 120 Ninth Avenue SE, Calgary, Alberta. The hearing 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 123 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]