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Order

Re:

Order

Order
File No. 201635

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: Zohar (Michael) Barak


ORDER


WHEREAS on May 11, 2016, the Mutual Fund Dealers Association of Canada (the
“MFDA”) issued a Notice of Hearing pursuant to section 24.4 of By-law No. 1 in respect of
Zohar (Michael) Barak (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the
MFDA, dated June 8, 2016 (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 between July 6, 2004 and May
7, 2014, the Respondent, or his assistant for whom he was responsible, obtained, possessed, and
in 2 instances, used to process transactions, 54 pre-signed account forms in respect of at least 28
clients;

IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a
consequence of which:
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1.
The Respondent shall pay a fine in the amount of $9,000 pursuant to s. 24.1.1(b) of
MFDA By-law No.1;

2.
The Respondent shall pay costs in the amount of $2,500 pursuant to s. 24.2 of MFDA
By-law No. 1;

3.
The fine shall be payable in 12 monthly installments in the amount of $750 each, the
first of which shall be paid on the final business day of the month that follows the date of the
acceptance of the settlement agreement by the Hearing Panel;

4.
The Respondent shall in the future comply with MFDA Rule 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 23rd day of June, 2016.

“Patrick Galligan”
The Hon. Patrick T. Galligan, Q.C.,
Chair
“Brigitte Geisler”
Brigitte Geisler,
Industry Representative
“Selwyn Kossuth”
Selwyn Kossuth,
Industry Representative
DM# 489894
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