Order

WHEREAS on October 5, 2018, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a Notice of Hearing pursuant to sections 20 and 24 of By-law No. 1 in respect of David Jeremy Dean (the “Respondent”);

AND WHEREAS, in accordance with s. 19.13 of MFDA By-Law No. 1, the first appearance in this proceeding was held by teleconference before a public representative of the Central Regional Council of the MFDA (the “Chair of the Hearing Panel”) on December 11, 2018, to discuss scheduling and other procedural matters, following which a further scheduling appearance was scheduled to take place by teleconference on January 17, 2019 at 10:00 a.m.;

AND WHEREAS, in accordance with s. 19.13 of MFDA By-Law No. 1, a further scheduling appearance in this proceeding was held by teleconference before the Chair of the Hearing Panel on January 17, 2019, during which time the hearing on the merits in this matter was scheduled to take place on May 8, 2019 at 10:00 a.m. in the hearing room located at the offices of the MFDA at 121 King Street West, Suite 1000, Toronto, Ontario (the “MFDA Hearing Room”);

AND WHEREAS on May 8, 2019, further to a request made by the Respondent to the hearing panel of the Central Regional Council (the “Hearing Panel”), and following submissions made to the Hearing Panel by the Respondent and Staff of the MFDA (“Staff”), the hearing on the merits was adjourned and re-scheduled to take place on June 3, 2019 at 1:00 p.m. in the MFDA Hearing Room;

AND WHEREAS the hearing on the merits in this matter was held before the Hearing Panel on June 3, 2019, October 1, 2019 and November 19, 2019, during which time the Hearing Panel heard the evidence and submissions of Staff and the Respondent;

AND WHEREAS the Hearing Panel is of the opinion that, commencing on at least March 29, 2017, the Respondent failed to cooperate with an investigation by Staff of the MFDA into his conduct, contrary to section 22.1 of MFDA By-law No. 1;

IT IS HEREBY ORDERED THAT:

1. If at any time a non-party to this proceeding, with the exception of the bodies set out in section 23 of MFDA By-law No. 1, requests production of or access to exhibits in this proceeding that contain personal information as defined by the MFDA Privacy Policy, 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 personal information, pursuant to Rules 1.8(2) and (5) of the MFDA Rules of Procedure;
2. The Respondent is permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
3. The Respondent shall pay a fine in the amount of $40,000, pursuant to section 24.1.1(b) of MFDA By-law No. 1; and
4. The Respondent shall pay costs of this proceeding in the amount of $10,000, pursuant to section 24.2 of MFDA By-law No. 1.