Order

WHEREAS on February 7, 2020, 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 a disciplinary proceeding commenced against Rajvir Kaur Hothi (the “Respondent”);

AND WHEREAS the first appearance in this hearing was held before a panel of the Prairie Regional Council of the MFDA (the “Hearing Panel”) on April 9, 2020;

AND WHEREAS at the first appearance, no one appeared on behalf of the Respondent;

AND WHEREAS on April 9, 2020 the Hearing Panel deemed the manner of service of the Notice of Hearing to be effective on the Respondent;

AND WHEREAS on May 19, 2020 the second appearance was held before the Hearing Panel;

AND WHEREAS at the second appearance, no one appeared on behalf of the Respondent;

AND WHEREAS on September 9, 2020 the Hearing Panel conducted a hearing of the matters as described in the Notice of Hearing via videoconference;

AND WHEREAS no one appeared on behalf of the Respondent, although notified of the hearing by Staff as to the purpose, timing, and location of the hearing;

AND WHEREAS in the opinion of the Hearing Panel the Respondent:

1. between October 25, 2017 and January 8, 2018, misappropriated monies from two clients and two other individuals, contrary to MFDA Rule 2.1.1; and
2. commencing in March 2018, failed to cooperate with the MFDA’s investigation into her conduct, contrary to Section 22.1 of MFDA By-law No. 1.

IT IS HEREBY ORDERED THAT:

1. The Respondent shall be 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 $90,000 pursuant to s. 24.1.1.(b) of MFDA By-law No. 1, being comprised of a fine of $40,000 in respect of the violation of MFDA Rule 2.1.1, and a fine of $50,000 for the Respondent’s failure to cooperate contrary to Section 22.1 of MFDA By-Law No. 1;
3. The Respondent shall pay costs attributable to conducting the investigation and hearing of this matter in the amount of $6,500, pursuant to s. 24.2 of MFDA 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.