[Applicable to all proceedings under MFDA By-law No. 1]
1.1 Application of these Rules
(1) Part A applies to all proceedings under MFDA By-law No. 1.
(2) Part B applies to proceedings conducted pursuant to sections 20 (Disciplinary Hearings), 24.1 (Power of Hearing Panels to Discipline) and 24.4 (Settlement Agreements) of MFDA By-law No. 1.
(3) Part C applies to proceedings conducted pursuant to sections 11.8 (Reviews of Membership Application Hearings) and 24.6.3 (Reviews of Disciplinary Hearings) of MFDA By-law No. 1.
(4) Part D applies to proceedings conducted pursuant to section 11.6 (Membership Application Hearings) of MFDA By-law No. 1.
(5) Part E applies to proceedings conducted pursuant to section 24.3 (Applications in Exceptional Circumstances) of MFDA By-law No. 1.
(6) Part F applies to proceedings conducted pursuant to sections 20 (Disciplinary Hearings), 24.1 (Power of Hearing Panels to Discipline), 24.3 (Applications in Exceptional Circumstances), 24.4 (Settlement Agreements) and 24.7 (Monitor) of MFDA By-law No. 1.
In these Rules:
"appeal" means a review hearing conducted pursuant to MFDA By-law No. 1.
"Appeal Panel" means a panel appointed to preside over an appeal, including a single-member Appeal Panel appointed to preside over any motion or step in a proceeding.
"Appellant" means a party bringing a review hearing.
"Applicant" means a party bringing a Membership Application Hearing.
"Corporation" means the Mutual Fund Dealers Association of Canada and where these Rules require, includes any director, officer, employee or agent of the Corporation authorized to perform any act on behalf of the Corporation.
"document" means any book, record, account, statement, report, correspondence, note, memorandum, file, chart, list, voucher or any other information stored or recorded by any means or by any device, including any sound or video recording, photograph, computer file or e-mail.
"electronic hearing" means a hearing held by teleconference, video-conference, or any other technology that allows people to communicate electronically.
"hearing" means any hearing conducted pursuant to MFDA By-law No. 1.
"Hearing Panel" means:
- a panel of three representatives of a Regional Council appointed to preside over a proceeding or a panel of one Public Representative of a Regional Council appointed to preside over a motion, an application or any step in a proceeding; or
- the board of directors of the Corporation, or any panel or committee of directors appointed by the board of directors under the By-laws of the Corporation, that presides over a proceeding or any step in a proceeding.
- any Saturday or Sunday;
- New Year’s Day;
- Family Day
- Good Friday;
- Easter Monday;
- Victoria Day;
- Canada Day;
- Labour Day;
- Thanksgiving Day;
- Remembrance Day;
- Christmas Day;
- Boxing Day; and
- any other special holiday proclaimed by the federal government or a provincial government which inures to the benefit of any party to a proceeding.
"Member" means a member of the Corporation.
“monitor” means a person or company appointed to oversee and report on a Member’s activities and to act in furtherance of powers granted by a Hearing Panel.
"Moving Party" means a party bringing a motion.
"oral hearing" means a hearing where the parties attend in person, also called a “hearing in person”.
"Panel" means a Hearing Panel or an Appeal Panel.
"party" means any party to a proceeding brought pursuant to MFDA By-law No. 1, including the Corporation.
"Pre-hearing Conference Officer" means a Public Representative of a Regional Council appointed to preside over a pre-hearing conference.
"proceeding" means all steps in a disciplinary, membership or appeal proceeding conducted pursuant to MFDA By-law No. 1, from the issuance of the commencing document to the final disposition of the matter.
"Respondent" means a Member or person under the jurisdiction of the Corporation named in a Notice of Hearing, Notice of Application or a Settlement Agreement, or a party named in a Notice of Appeal against whom the appeal is brought.
"Responding Party" means a party responding to a motion or a review of an application pursuant to section 24.3.6 of MFDA By-law No. 1.
“Requesting Party” means a party requesting a review of an application conducted pursuant to section 24.3.6 of MFDA By-law No.1.
"Rules" means these Rules of Procedure.
"Secretary" means the Secretary of the Corporation.
"written hearing" means a hearing held by exchanging documents.
1.3 General Principles
(1) These Rules shall be liberally construed to secure the most expeditious and cost-effective determination of every proceeding on its merits consistent with the requirements of fairness.
(2) Where matters are not provided for in these Rules, the practice may be determined by analogy to them.
(1) Where any of these Rules are inconsistent or conflict with the provisions of a By-law of the Corporation, the provisions of the By-law shall prevail to the extent of the inconsistency or conflict.
1.5 General Powers of a Panel
(1) A Panel may:
- exercise any of its powers under these Rules on its own initiative or at the request of a party;
- waive or vary any of these Rules at any time, on such terms as it considers appropriate;
- issue directions or make interim orders concerning the practice or procedure to be followed during a proceeding, on such terms as it considers appropriate.
1.6 Admissibility of Evidence
(1) Subject to sub-Rule (3), a Panel may admit as evidence any testimony, document or other thing, including hearsay, which it considers to be relevant to the matters before it and is not bound by the technical or legal rules of evidence.
(2) A Panel may admit a copy of any document or other thing as evidence if it is satisfied that the copy is authentic.
(3) Nothing is admissible in evidence which would be inadmissible by reason of a statute or a legal privilege.
1.7 Defect or Irregularity in Form
(1) No proceeding or document, hearing, decision or step in a proceeding is invalid only by reason of a defect or irregularity in form.
1.8 Hearings Open to the Public
(1) Subject to sub-Rules (2) and (3), all hearings shall be open to the public unless the Panel orders otherwise.
(2) A Panel may order that all or part of a hearing be heard in the absence of the public where the Panel is of the opinion that intimate financial or personal matters or other matters may be disclosed at the hearing which are of such a nature, having regard to the circumstances, that the desirability of avoiding disclosure thereof in the interests of any person affected or in the public interest outweighs the desirability of adhering to the principle that hearings be open to the public.
(3) An electronic hearing shall be open to the public unless the Panel makes an order under sub-Rule (2) or the Panel is of the opinion that it is not practical to hold the electronic hearing in a manner that is open to the public.
(4) A Panel may impose such terms as it considers appropriate for the conduct of a hearing held in the absence of the public.
(5) Exhibits, documents and transcripts relating to that part of a hearing that is held in the absence of the public shall be marked “Confidential” and shall be kept separate from the public record, and access to this material shall only be by order of the Panel.
2.1 Computation of Time
(1) When computing time periods under these Rules or an order of a Panel:
- Where there is a reference to a number of days between two events, they are counted by excluding the day on which the first event happens and including the day on which the second event happens;
- Where a period of less than 7 days is prescribed, holidays are not counted;
- Where the time for doing an act expires on a holiday, the act may be done on the next day that is not a holiday;
- Where a document would be deemed to be received or service would be deemed to be effective on a day that is a holiday, it shall be deemed to be received or effective on the next day that is not a holiday.
2.2 Extension or Abridgment of Time
(1) The time for the performance of any obligation under these Rules may be extended or abridged:
- by a Panel, at any time on such terms as it considers appropriate;
- on consent of the parties prior to the expiration of the prescribed time.
3.1 Representation before a Panel
(1) In any proceeding, a party may act on his, her or its own behalf or may be represented by counsel or agent.
3.2 Change in Representation
(1) A party represented by counsel or agent may change counsel or agent by immediately advising the Secretary and every other party in writing of the name, address, telephone number, fax number and e-mail address, if any, of the new counsel or agent.
(2) A party acting on his, her or its own behalf may appoint counsel or agent by immediately advising the Secretary and every other party in writing of the name, address, telephone number, fax number and e-mail address, if any, of the counsel or agent.
(3) A party represented by counsel or agent may elect to act on his, her or its own behalf by immediately advising the Secretary and every other party in writing of the address, telephone number, fax number and e-mail address, if any, at which the party may be contacted and served.
(4) Where a counsel or agent ceases to act for a party, the counsel or agent should immediately notify the Secretary and every other party in writing.