Skip to Main Content

Order

Re:

Order

Order
File No. 200601


IN THE MATTER OF AN APPLICATION
PURSUANT TO SECTION 24.3 OF BY-LAW NO. 1
OF THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re: Tandem Wealth Management Inc.



ORDER


WHEREAS this application was brought by Staff of the Mutual Fund Dealers
Association of Canada (the "MFDA"), without notice to Tandem Wealth Management
Inc. (“Tandem”), a Member of the MFDA, before a Hearing Panel (the "Hearing Panel")
of the Regional Council of the Atlantic Region of the MFDA pursuant to section
24.3.1(b) of MFDA By-law No. 1;

AND WHEREAS on reading the Affidavit of Laura Milliken sworn May12, 2006, the
Affidavit of Rob DelFrate sworn May 12, 2006 and on hearing the submissions of
counsel for Staff of the MFDA;

AND WHEREAS on October 13, 2005, Norbourg Groupe Financier Inc. the parent
corporation of Tandem filed an assignment in bankruptcy pursuant to the Bankruptcy and
Insolvency Act
, R.S.C. 1985, B-3 and RSM Richter Inc. was appointed as trustee in the
bankruptcy with the responsibility of administering the assets of Tandem;

AND WHEREAS pursuant to section 24.3.1(b) of By-law No. 1, the Hearing Panel is
obliged, forthwith upon receiving notice that a receiver or other officer with similar
powers is appointed in respect of all or any part of the undertaking and property of a
Member, to suspend the rights and privileges of the Member for such period and on such
terms and conditions as such Hearing Panel may in its discretion determine;

IT IS HEREBY ORDERED THAT:

1.
The rights and privileges of membership of Tandem in the MFDA are suspended
forthwith until further order of a Hearing Panel;

2.
If Norbourg Groupe Financier Inc. fails to obtain a discharge under the
Bankruptcy and Insolvency Act within thirty (30) days of the effective date of
service of this Order on the trustee in bankruptcy, such that a trustee in
bankruptcy continues to be appointed in respect of the undertaking and property
of Tandem, then Staff of the MFDA may proceed with an application under
section 24.3.2 (b) of MFDA By-law No. 1, without notice to Tandem or the
trustee in bankruptcy, to terminate the rights, privileges and membership of
Tandem in the MFDA;

3.
Staff of the MFDA, the trustee in bankruptcy or Tandem may apply to a Hearing
Panel, on reasonable notice, for directions, to amend or vary any terms and
conditions of this Order or for such further and other relief as a Hearing Panel
determines is appropriate in the circumstances; and

4.
This Order may be signed in counterparts.

DATED at Halifax this 13th day of June, 2006.

Per: “Thomas J. Lockwood”

Thomas J. Lockwood Q.C., Chair

Per: “Ann Etter”

Ann Etter

Per: “Remy Richard”

Remy Richard