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IN THE MATTER OF THE MUTUAL FUND DEALER RULES

Re: Donald Lorne Gable

Order

WHEREAS on December 19, 2022, 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 [now Mutual Fund Dealer Rules 7.3 and 7.4] in respect of a disciplinary proceeding commenced against Donald Lorne Gable (the “Respondent”);

AND WHEREAS on January 1, 2023, the MFDA and the Investment Industry Regulatory Organization of Canada (“IIROC”) consolidated to form a new self-regulatory organization now called the Canadian Investment Regulatory Organization (“CIRO”);

AND WHEREAS on January 12, 2023, the Respondent served and filed a Reply to the Notice of Hearing, in accordance with Rule 8.1 of the MFDA Rules of Procedure (the “ROP”);

AND WHEREAS on February 21, 2023, the first appearance in this proceeding took place electronically by videoconference to address scheduling and other procedural matters before one public representative of a district hearing committee acting on behalf of a hearing panel of the Alberta District Hearing Committee of CIRO (the “Hearing Panel”) pursuant to section 19.13 of MFDA By-law No. 1 [now Mutual Fund Dealer Rule 7.2.4(b)] which permits one public representative to be designated to act on behalf of a Hearing Panel for the purpose of hearing and determining any procedural matter;

AND WHEREAS on June 26, 2023, counsel for Staff of CIRO (“Staff”) and counsel for the Respondent attended an interim appearance electronically by videoconference to reschedule the hearing of this matter on the merits at the request of the Hearing Panel and the hearing on the merits was rescheduled to take place from August 16-18, 2023;

AND WHEREAS on July 25, 2023, counsel for Staff and counsel for the Respondent attended a third appearance electronically by videoconference to address a request by Staff to amend the pre-hearing schedule and reschedule the hearing of this matter on the merits;

AND WHEREAS the Respondent did not oppose the relief sought by Staff;

AND UPON HEARING the submissions of the parties with respect to scheduling and other procedural matters;

IT IS HEREBY ORDERED THAT:

  1. In accordance with Rule 11 of the ROP, Staff and the Respondent shall each provide the other party with a witness list and a witness statement for each witness that the party intends to call at the hearing on the merits on or before August 18, 2023;
  2. Subject to any further order of the Hearing Panel, the hearing of this matter on its merits shall take place electronically by video conference on September 28 and 29, 2023, commencing each day at 10:00 am (MST), or so soon thereafter as the matter can be heard.
  • Sherri Walsh
    Sherri Walsh
    Chair

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.