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Order

Re:

Order

Order
File No. 201356


IN THE MATTER OF A SETTLEMENT HEARING
PURSUANT TO SECTION 24.4 OF BY-LAW NO. 1 OF
THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re: William James Clarke


ORDER

WHEREAS on December 3, 2013, 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 William James Clarke (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the
MFDA, dated November 26, 2013 (the “Settlement Agreement”), in which the Respondent
agreed to a proposed settlement of matters for which the Respondent could be disciplined
pursuant to ss. 20 and 24.1 of By-law No. 1;

AND WHEREAS the Hearing Panel is of the opinion that the Respondent between 2008
and 2012:

a) used 115 blank or partially completed pre-signed forms to process transactions in
relation to 54 client accounts;
b) obtained and maintained 6 blank or partially completed pre-signed account forms in
relation to 6 client accounts; and
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c) altered 4 account forms after the clients had signed them;

contrary to MFDA Rule 2.1.1.

IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a
consequence of which:

1.
the Respondent shall pay a fine in the amount of $7,500, pursuant to section 24.1.1 of By-
law No. 1;

2.
the Respondent shall pay $2,500 in respect of the costs of the investigation and settlement
of this matter pursuant to section 24.2 of By-law No. 1;

3.
the Respondent shall be prohibited from acting in a supervisory capacity with a Member
of the MFDA for a period of six (6) months from the date of the acceptance of this Settlement
Agreement, pursuant to section 24.1.1 of By-law No. 1;

4.
the Respondent shall in the future comply with all MFDA By-laws, Rules and Policies,
and all applicable securities legislation and regulations made thereunder, including MFDA Rules
2.1.1; and

5.
If at any time a non-party to this proceeding requests production of, or access to, any
materials filed in, or the record of, this proceeding, including all exhibits and transcripts, then the
MFDA Corporate Secretary shall not provide copies of, or access to, the requested documents to
the non-party without first redacting from them any and all intimate financial or personal
information, pursuant to Rules 1.8(2) and (5) of the MFDA Rules of Procedure.

DATED this 11th day of February, 2014.

“Shelley L. Miller”
Shelley L. Miller, Q.C.,

Chair
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“Howard R. Mix”
Howard R. Mix,

Industry Representative

“Richard Sydenham”
Richard Sydenham,
Industry Representative

DM 369700 v2

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