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Order

Re:

Order

Order
File No. 200801 & 200933

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: Calogero (Charlie) Arcuri



ORDER


WHEREAS on February 5, 2008 & October 23, 2009, the Mutual Fund Dealers
Association of Canada (the “MFDA”) issued a Notice of Settlement Hearing pursuant to section
24.4 of By-law No. 1 in respect of Calogero (“Charlie”) Arcuri (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the
MFDA, dated January 24, 2011 (the “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 the Hearing Panel is of the opinion that the Respondent failed to deal with
clients, honestly and in good faith and engaged in conduct which was unbecoming and
detrimental to the public interest contrary to MFDA Rules 2.1.1(a) and (c) respectively; and that
the Respondent has also failed to attend to give information as requested by the MFDA, contrary
to Section 22.1 section (c) of MFDA By-Law No. 1.
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IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a
consequence of which:

1. If at any time a non-party to this proceeding requests production of or access to exhibits in
this proceeding that contain intimate financial or personal information, then the MFDA
Corporate Secretary shall not provide copies of or access to the requested exhibits to the non-
party without first redacting from them any and all intimate financial or personal information,
pursuant to Rules 1.8(2) and (5) of the MFDA Rules of Procedure;

2. The Respondent shall be permanently prohibited from conducting securities related business
in any capacity, pursuant to section 24.1.1(e) of MFDA By-Law No. 1;

3. The Respondent shall pay a fine in the amount of $22,500 pursuant to s. 24.1.1(b) of MFDA
By-law No. 1, as follows:

(i)
$5,000 payable upon approval of the settlement;

(ii)
$5,000 payable on or before February 28, 2011;

(iii)
$5,000 payable on or before April 30, 2011;

(iv)
$5,000 payable on or before June 30, 2011; and

(v)
$2,500 payable on or before July 31, 2011.

4.
The Respondent shall pay costs in the amount of $2,500 pursuant to s. 24.2 of MFDA
By-Law No. 1, on or before July 31, 2011; and

5.
In the event that the Respondent fails to make a payment as per subparagraphs (c) or (d),
the fine against the Respondent will automatically increase and the Respondent shall pay the
following:

(i)
a fine in the amount of $50,000 for the violation of MFDA Rule

2.1.1 and for the violation of Section 22.1(c) of MFDA By-

Law No. 1.


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DATED this 24th day of January, 2011.

“Peter Cory”
The Hon. Peter Cory, Q.C.,

Chair

“Jeanne Beverly”
Jeanne Beverly,

Industry Representative

Doc 240668
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