Order

WHEREAS on November 12, 2019, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a Notice of Hearing pursuant to sections 20 and 24 of MFDA By-law No. 1 in respect of Rohit Jaswal (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated May 11, 2020 (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 MFDA By-law No. 1;

AND WHEREAS on the basis of the facts admitted by the Respondent in Part IV of the Settlement Agreement and the contraventions admitted by the Respondent in Part V of the Settlement Agreement, the Hearing Panel is of the opinion that the Respondent:

1. between June 23, 2017 and July 17, 2017, processed five unauthorized trades in the investment accounts of four clients, contrary to the Member’s policies and procedures, and MFDA Rules 2.3.1(b), 2.1.1, 2.5.1, 2.10, and 1.1.2; and
2. between May and June 2017, obtained, possessed, and used to process transactions, seven pre-signed account forms in respect of four clients, contrary to the Member’s policies and procedures and MFDA Rules 2.1.1, 2.5.1, 2.10, and 1.1.2.

IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a consequence of which:

1. The Respondent is prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of 6 months, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
2. The Respondent shall pay a fine of $5,000, pursuant to Section 24.1.1(b) of MFDA By-law No. 1;
3. The Respondent shall pay costs to the MFDA in the amount of $2,500, pursuant to section 24.2 of Bylaw No. 1;
4. The Respondent shall pay the fine referred to in section 2 and the costs referred to in section 3 of this order in accordance with the following schedule:
   1. $1,500 (Costs) in certified funds upon acceptance of the Settlement Agreement by the Hearing Panel;
   2. $1,000 (Costs) on or before the last business day of the 1st month following the date of the acceptance of the Settlement Agreement by the Hearing Panel;
   3. $1,000 (Fine) on or before the last business day of the 2nd month following the date of the acceptance of the Settlement Agreement by the Hearing Panel;
   4. $1,000 (Fine) on or before the last business day of the 3rd month following the date of the acceptance of the Settlement Agreement by the Hearing Panel;
   5. $1,000 (Fine) on or before the last business day of the 4th month following the date of the acceptance of the Settlement Agreement by the Hearing Panel;
   6. $1,000 (Fine) on or before the last business day of the 5th month following the date of the acceptance of the Settlement Agreement by the Hearing Panel; and
   7. $1,000 (Fine) on or before the last business day of the 6th month following the date of the acceptance of the Settlement Agreement by the Hearing Panel.
5. 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.