WHEREAS on July 27, 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 a disciplinary proceeding commenced against Brian Arthur Greigson (the “Respondent”);
AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated January 14, 2019 (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, between January and March 2014, referred two clients and one other individual to purchase $75,000 of syndicated mortgages outside the Member, and received $3,750 in referral fees outside the Member for doing so, thereby engaging in conduct contrary to MFDA Rules 1.1.1, 2.4.2 and 2.1.1, and the requirements of sections 13.7 and 13.8 of National Instrument 31-103.
IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a consequence of which:
- the Respondent shall pay a fine of $7,500, pursuant to section 24.1.1(b) of MFDA By-law No. 1;
- the Respondent shall be prohibited from conducting securities related business while in the employ of or associated with any MFDA Member for a period of three months, pursuant to section 24.1.1(e) of MFDA By-law No. 1; and
- the Respondent shall pay costs of $2,500, pursuant to section 24.2 of MFDA By-law No. 1.
Martin L. FriedlandMartin L. FriedlandChair
Colleen WaringColleen WaringIndustry Representative
Joseph YassiJoseph YassiIndustry Representative