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Order
File No. 201345





IN THE MATTER OF A SETTLEMENT HEARING
PURSUANT TO SECTION 24.4 OF BY-LAW NO. 1 OF
THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re: Orville Keith Carruthers



ORDER


WHEREAS on October 2, 2013, the Mutual Fund Dealers Association of Canada (the
“MFDA”) issued a Notice of Settlement Hearing pursuant to s. 24.4 of MFDA By-law No. 1
(“By-law No. 1”) in respect of Orville Keith Carruthers (“Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the
MFDA, dated September 27, 2013 (Settlement Agreement”), in which the Respondent agreed to
a proposed settlement of matters for which the Respondent could be disciplined pursuant to
ss. 20 and 24.1 of By-law No. 1;

AND WHEREAS on the basis of the admissions made by the Respondent as recorded in
the Settlement Agreement, the Hearing Panel is of the opinion that, between June 26, 2008 and
August 20, 2012, the Respondent obtained, maintained and/or used approximately 170 account
forms in 60 client accounts which were signed by clients when the account forms were blank or
only partially complete, or contained photocopies of client signatures, contrary to MFDA
Rule 2.1.1;

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IT IS HEREBY ORDERED THAT:

1) The Respondent shall pay a fine in the amount of $5,000, pursuant to s. 24.1.1(b) of
By-law No. 1; and

2) The Respondent shall pay costs in the amount of $2,500, pursuant to s. 24.2 of
By-law No. 1.

DATED this 23rd day of October, 2013.

“John B. Webber”
The Hon. John B. Webber, Q.C.,

Chair

“Terrance Bourne”
Terrence Bourne,

Industry Representative

“Selwyn Kossuth”
Selwyn Kossuth,

Industry Representative
DM 358266 v1
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