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Bulletin #0714-P

For further information, please contact:

Paige Ward
General Counsel, Corporate Secretary and Vice President, Policy
For Distribution to Relevant Parties within your Firm

MFDA Staff Notice #0066 - Signature Falsification

MFDA staff is issuing a revised MFDA Staff Notice which reviews background information on signature falsification and outlines actions that should be taken by Members and Approved Persons to detect, address, and prevent it. The Notice expands on the information and guidance set out in MFDA Staff Notice #0066Pre-Signed Forms and in MFDA Bulletin #0661-ESignature Falsification issued October 2, 2015.

The Notice applies to situations where Approved Persons have created, possessed or used documents such as Know-Your-Client forms, trade forms and cheques which have been pre-signed or on which client signatures have been falsified through other means. Hearing Panels of MFDA Regional Councils have consistently ruled that signature falsification is not permissible under MFDA Rule 2.1.1 which requires Members and Approved Persons to deal fairly, honestly and in good faith with clients and observe high standards of ethics and conduct in the transaction of business.