Order

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File No. 202245

IN THE MATTER OF THE MUTUAL FUND DEALER RULES†

Re: Adib Khaldi (also known as “Deebo”)

Order

(ARISING FROM AN INTERIM APPEARANCE ON APRIL 4, 2023)

WHEREAS on October 5, 2022, 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 (now Mutual Fund Dealer Rules 7.3 and 7.4) in respect of a disciplinary proceeding commenced against Adib Khaldi (the “Respondent”);

AND WHEREAS on January 3, 2023, the Respondent served and filed a Reply to the Notice of Hearing;

AND WHEREAS on December 1, 2022, in accordance with section 19.1.3(b) of MFDA By-law No. 1 (now Mutual Fund Dealer Rule 7.2.4(b)) which permits a public representative of a regional council to be designated to act on behalf of a Hearing Panel for the purpose of hearing and determining any procedural matter, the first appearance in this matter was held by videoconference before one public representative of the Atlantic Regional Council of the MFDA;

AND WHEREAS on January 1, 2023, the MFDA and the Investment Industry Regulatory Organization of Canada (“IIROC”) consolidated to form the New Self-Regulatory Organization of Canada (the “Corporation”);

AND WHEREAS on April 4, 2023, in accordance with section 19.1.3(b) of MFDA
By-law No. 1[1], an appearance took place before a public representative of the Nova Scotia District Committee of the Corporation who was designated to act on behalf of the Hearing Panel (the “Chair of the Hearing Panel”);

AND WHEREAS Counsel for Staff of the Corporation (“Staff”) and the Respondent attended the appearance by videoconference to address scheduling and other procedural matters and upon hearing the submissions of the parties;

IT IS HEREBY ORDERED THAT:

  1. An interim appearance shall take place before the Chair of the Hearing Panel by videoconference on June 19, 2023 at 11:00 AM (Atlantic), or as soon thereafter as the appearance can be held;
  2. If at any time a non-party to this proceeding, with the exception of the bodies set out in Mutual Fund Dealer Rule 6.3, requests production of or access to exhibits in this proceeding that contain personal information as defined by the Corporation’s Privacy Policy, then the Corporate Secretary’s Office, Mutual Fund Dealer Division of the Corporation shall not provide to the non-party, copies of or access to the requested exhibits without first redacting from them any and all personal information, pursuant to Rules 1.8(2) and (5) of the Mutual Fund Dealer Rules of Procedure.

[1] In accordance with Mutual Fund Dealer Rule 1A, this proceeding continues to be conducted pursuant to MFDA By-law No. 1.

Dated: April 4, 2023
  • R. Scott Peacock
    R. Scott Peacock
    Chair

903994

†

On January 1, 2023, the Investment Industry Regulatory Organization of Canada (“IIROC”) and the Mutual Fund Dealers Association of Canada (the “MFDA”) were consolidated into a single self-regulatory organization recognized under applicable securities legislation. The New Self-Regulatory Organization of Canada (referred to herein as the “Corporation”) adopted interim rules that incorporate the pre-amalgamation regulatory requirements contained in the rules and policies of IIROC and the by-law, rules and policies of the MFDA (the “Interim Rules”). The Interim Rules include (i) the Investment Dealer and Partially Consolidated Rules, (ii) the UMIR and (iii) the Mutual Fund Dealer Rules. These rules are largely based on the rules of IIROC and certain by-laws, rules and policies of the MFDA that were in force immediately prior to amalgamation. Where the rules of IIROC and the by-laws, rules and policies of the MFDA that were in force immediately prior to amalgamation have been incorporated into the Interim Rules, Enforcement Staff have referenced the relevant section of the Interim Rules. Pursuant to Mutual Fund Dealer Rule 1A and s.14.6 of By-Law No.1 of the Corporation, contraventions of former MFDA regulatory requirements may be enforced by the Corporation.