File No. 201831
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: Ghassan Alathamna
(ARISING FROM SETTLEMENT HEARING ON JANUARY 31, 2019)
WHEREAS on January 9, 2019, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a News Release announcing that it proposes to hold a hearing to consider whether, pursuant to section 24.4 of By-law No. 1, a hearing panel of the Central Regional Council (the “Hearing Panel”) of the MFDA should accept the settlement agreement entered into between Staff of the MFDA (“Staff”) and the Respondent, Ghassan Alathamna (the “Respondent”);
AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated May 25, 2018 (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 on or around October 3, 2016, the Respondent cut and pasted a client signature from an account form previously signed by the client onto 2 new account forms, and submitted the account forms for processing, contrary to MFDA Rule 2.1.1;
IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a consequence of which:
- The Respondent shall be prohibited from conducting securities related business in any capacity while in the employ of or associated with a Member of the MFDA for a period of 3 months, pursuant to s. 24.1.1(e) of MFDA By-law No.1.
- The Respondent shall pay costs in the amount of $1,000 in certified funds upon acceptance of the Settlement Agreement, pursuant to s. 24.2 of MFDA By-law No.1.
- The Respondent shall in the future comply with MFDA Rule 2.1.1.
DATED: Jan 31, 2019
"Edward V. Jackson"
Edward V. Jackson
"Guenther W.K. Kleberg"
Guenther W.K. Kleberg