TORONTO, April 19, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Emily Yu ("Respondent"). In its Notice of Hearing dated March 29, 2018 ("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: On or about February 2, 2016, the Respondent engaged in unauthorized discretionary trading by processing four trades in a client's account without authorization, contrary to MFDA Rules 2.3.1 and 2.1.1.
Allegation #2: Between about October 2015 and November 2015, the Respondent obtained, maintained and used a total of six pre-signed account forms, contrary to MFDA Rule 2.1.1.
Allegation #3: On or about October 30, 2015, the Respondent signed a client's signature on an account form, contrary to MFDA Rule 2.1.1.
Allegation #4: On or about June 23, 2015, the Respondent altered an account form without obtaining client initials to confirm the alteration, contrary to MFDA Rule 2.1.1.
Allegation #5: On or about February 19, 2016, the Respondent misled MFDA Staff during the course of its investigation into her conduct, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will be held by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on May 23, 2018 at 10:00 a.m. (Pacific), or as soon thereafter as the appearance can be held, in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance will take place in the hearing room at the MFDA offices, located at 650 West Georgia Street, Suite 1220, Vancouver, British Columbia, and 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 Vancouver, British Columbia at a time and venue to be announced.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Vancouver, British Columbia 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 82,000 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
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