WHEREAS on July 25, 2017, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Hearing pursuant to sections 20 and 24 of By-law No. 1 in respect of a disciplinary proceeding commenced against Walter John Dixon (“Respondent”);
AND WHEREAS the Respondent did not deliver or serve a Reply to the Notice of Hearing prior to the commencement of the hearing on the merits in this matter;
AND WHEREAS on October 11, 2017 the hearing on the merits of this matter was held before the Hearing Panel;
AND WHEREAS by order of the Hearing Panel dated September 12, 2017 the Respondent was determined to have been served with the Notice of Hearing and notified of the within proceeding;
AND WHEREAS no one appeared at the hearing on the merits on behalf of the Respondent;
AND WHEREAS the Hearing Panel considered the evidence filed by, and the submissions of, Staff of the MFDA;
AND WHEREAS it is the opinion of the Hearing Panel that, commencing November 6, 2015, the Respondent failed to cooperate with the MFDA’s investigation into his conduct, contrary to section 22.1 of MFDA By-law No. 1.
IT IS HEREBY ORDERED THAT:
- if at any time a non-party to this proceeding requests production of, or access to, any materials filed in, or the record of, this proceeding, including all exhibits and transcripts, then the MFDA Corporate Secretary shall not provide copies of, or access to, the requested documents 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;
- the Respondent is permanently prohibited from conducting securities related business in any capacity over which the MFDA has jurisdiction, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
- the Respondent shall pay a fine in the amount of $50,000, pursuant to s. 24.1.1(b) of MFDA By-law No. 1; and
- the Respondent shall pay costs of this proceeding in the amount of $7,500 pursuant to s. 24.2 of MFDA By-law No. 1.
Frederick W. ChenowethFrederick W. ChenowethChair
Guenther W. K. KlebergGuenther W. K. KlebergIndustry Representative