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File No. 202024

IN THE MATTER OF A DISCIPLINARY HEARING
PURSUANT TO SECTIONS 20 AND 24 OF BY-LAW NO. 1 OF
THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re: Krystal Jean Vanlandschoot

Order

(ARISING FROM HEARING ON DECEMBER 16, 2020)

WHEREAS on May 20, 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 Krystal Jean Vanlandschoot (the “Respondent”);

AND WHEREAS the first appearance in this hearing was held before a Chair of a Hearing Panel of the Central Regional Council of the MFDA (the “Hearing Panel”) on August 11, 2020 in accordance with s.19.13(b) of MFDA By-law No. 1, at which time no one appeared on behalf of the Respondent, although properly served with the Notice of Hearing as appears from the affidavit of service of Chris Russell dated May 28, 2020;

AND WHEREAS at the first appearance, the Chair of the Hearing Panel ordered that the hearing of this matter on its merits occur on December 16-17, 2020;

AND WHEREAS on December 16, 2020, the hearing of this matter on the merits proceeded as scheduled before the Hearing Panel, at which time no one appeared on behalf of the Respondent, although provided with proper notice of the hearing on the merits by the MFDA;

AND WHEREAS, at the hearing of this matter on the merits, the Hearing Panel considered the evidence and submissions presented by Staff with respect to the alleged misconduct, including the affidavit of Tim Fallows, sworn on December 10, 2020, and the affidavit of Elizabeth Bateman, sworn December 16, 2020, and the exhibits attached thereto;

AND WHEREAS on the basis of the evidence and submissions presented during the hearing of this matter on the merits, in the opinion of the Hearing Panel:

  1. between May 2018 and July 2018, the Respondent misappropriated at least $5,489 from two clients, contrary to MFDA Rule 2.1.1; and
  2. commencing in September 2018, the Respondent failed to cooperate with MFDA Staff during the course of an investigation into her conduct, 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 $80,000, pursuant to section 24.1.1(b) of MFDA By-law No. 1;
  3. The Respondent shall pay costs in the amount of $7,500, 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;

DATED: Dec 16, 2020

"Frederick W. Chenoweth"

Frederick W. Chenoweth

Chair


"Selwyn Kossuth"

Selwyn Kossuth

Industry Representative


"Samuel Mah"

Samuel Mah

Industry Representative


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