Order

WHEREAS on August 15, 2019, 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 Manjit Singh Cheema (the “Respondent”);

AND WHEREAS on November 8, 2019, the Hearing Panel conducted a hearing on the merits of this matter (“Hearing”);

AND WHEREAS the Hearing Panel considered the evidence and submissions presented by Staff of the MFDA at the Hearing;

AND WHEREAS the Hearing Panel finds that:

1. Commencing in February 2018, the Respondent failed to cooperate with an investigation conducted by MFDA Staff, contrary to section 22.1 of MFDA By-law No. 1.

IT IS HEREBY ORDERED THAT:

1. 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;
2. The Respondent shall pay a fine in the amount of $25,000, pursuant to section 24.1.1(b) of By-law No. 1;
3. The Respondent shall pay costs in the amount of $7,500, pursuant to section 24.2 of By-law No. 1; and
4. 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.