September 27, 2017 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) has commenced disciplinary proceedings in respect of Valorie Jean McManes (“Respondent”). In its Notice of Hearing dated September 7, 2017, 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 June 2012 and April 2016, the Respondent obtained, possessed, and used to process transactions, nine (9) pre-signed account forms in respect of four (4) clients, contrary to MFDA Rule 2.1.1; and.
Allegation #2: On or about September 3, 2015, the Respondent falsified one (1) account form in respect of one (1) client by altering information on the account form without having the client initial the alterations, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA’s Prairie Regional Council on November 8, 2017 at 10:00 a.m. (Mountain), 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. The Hearing on the Merits will take place in Calgary, Alberta at a time and venue to be announced.
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.
DM 574832 v1