March 2, 2022 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (the “MFDA”) has commenced disciplinary proceedings in respect of Manish Sharma (the “Respondent”). In its Notice of Hearing dated January 20, 2022 (the “Notice of Hearing”), 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 November 23, 2014 and December 30, 2019, the Respondent altered, and in some instances used to process transactions, 41 account forms in respect of 27 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #2: Between September 16, 2015 and November 21, 2019, the Respondent obtained, possessed, or in some instances used to process transactions, 24 pre-signed account forms in respect of 15 clients, contrary to MFDA Rule 2.1.1.
Allegation #3: Commencing on December 10, 2020, the Respondent failed to cooperate with an investigation conducted by MFDA Staff, contrary to section 22.1 of MFDA By-law No. 1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA’s Central Regional Council on April 7, 2022 at 10:00 a.m. (Eastern), 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 issues. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact firstname.lastname@example.org to obtain particulars.
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 80,000 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.