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Order

Re:

Order

Order
File No. 200610



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: Joseph Zollo



ORDER

WHEREAS on February 23, 2007, the Mutual Fund Dealers Association of
Canada (the “MFDA”) issued a Notice of Settlement Hearing pursuant to section 24.4 of
By-law No. 1 in respect of Joseph Zollo (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff
of the MFDA, dated February 16, 2007 (the “Settlement Agreement”), in which the
Respondent agreed to a proposed settlement of matters for which the Respondent could
be disciplined as an Approved Person of the MFDA, pursuant to ss. 20 and 24.1.1 of By-
law No. 1;;

AND UPON reviewing the Settlement Agreement and the Notice of Settlement
Hearing, and upon hearing submissions from counsel for the Respondent and for Staff of
the MFDA;

AND WHEREAS the Hearing Panel is of the opinion that the Respondent’s
conduct was contrary to the public interest;
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IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a
consequence of which, the following penalties shall be imposed upon the Respondent:

(a) Pursuant to s. 24.1.1 of By-law No. 1, the authority of the Respondent to
conduct securities related business shall be suspended for a period of three
years and six months from the date of the acceptance of this Settlement
Agreement by the Hearing Panel; and

(b) Pursuant o s. 24.1.1 of By-law No. 1, in the event that the Respondent
resumes employment as a mutual fund salesperson following the
conclusion of his suspension, the Respondent shall be subject to an
additional period of one year and six months of close supervision upon the
commencement of his employment.

DATED at Toronto this 20th day of March, 2007.

Per: “John B. Webber”

The Honourable John B. Webber, Chair

Per: “Christopher Marrese”

Christopher Marrese, Industry Representative

Per: “Sandy Grant”

Sandy Grant, Industry Representative

Doc# 103492
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