Order

WHEREAS on September 2, 2016, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Hearing pursuant to section 24.4 of By-law No. 1 in respect of Stéphane Joseph Lamarre (“Respondent”);

AND WHEREAS a first appearance in this matter was held on November 8, 2016 (“first appearance”) before a hearing panel of the MFDA Central Regional Council (“Hearing Panel”);

AND WHEREAS during the first appearance, following submissions by the Respondent and Staff of the MFDA with respect to scheduling of the Hearing on the Merits, the hearing was scheduled to be heard before the Hearing Panel on February 28, 2017;

AND WHEREAS on February 24, 2017, pursuant to a request by the parties, the Hearing on the Merits was adjourned to April 4, 2017;

AND WHEREAS on April 4, 2017, pursuant to a request by the Respondent, which was not opposed by Staff of the MFDA, the Hearing on the Merits was adjourned to June 6, 2017;

AND WHEREAS on May 19, 2017, the Respondent made a further request for the Hearing Panel to adjourn the Hearing on the Merits, which request was opposed by Staff of the MFDA;

AND WHEREAS, on May 19, 2017, the parties attended before the Hearing Panel by teleconference and, following submissions by the Respondent and Staff of the MFDA, the Hearing Panel:

1. granted the Respondent’s adjournment request and scheduled the hearing to commence on September 12, 2017 at 10:00 a.m.; and
2. ordered the Respondent’s peremptory attendance at the hearing on the merits;

AND WHEREAS the Respondent entered into an agreed statement of facts with Staff of the MFDA dated September 7, 2017 (“Agreed Statement of Facts”), in which the Respondent admitted to facts and a contravention of MFDA Rules for which the Respondent could be disciplined pursuant to ss. 20 and 24.1 of By-law No. 1;

AND WHEREAS as part of the Agreed Statement of Facts the Respondent and Staff of the MFDA did not agree on the penalties, if any, to be imposed on the Respondent in this case;

AND WHEREAS the hearing on the merits was held before the Hearing Panel on September 12, 2017 during which time the Respondent and Staff of the MFDA made submissions with respect to the penalties, if any, to be imposed on the Respondent in this case;

AND WHEREAS the Hearing Panel is of the opinion that between September 16, 2013 and November 25, 2013, while registered as a dealing representative of a Member, the Respondent engaged in securities related business on behalf of another Member that the Respondent was not registered with, contrary to MFDA Rules 1.1.1 and 2.1.1.

IT IS HEREBY ORDERED THAT:

1. If at any time a non-party to this proceeding, with the exception of the bodies set out in section 23 of MFDA By-law No. 1, requests production of or access to exhibits in this proceeding that contain personal information as defined by the MFDA Privacy Policy, then the MFDA Corporate Secretary shall not provide copies of or access to the requested exhibits to the non-party without first redacting from them any and all personal information, pursuant to Rules 1.8(2) and (5) of the MFDA Rules of Procedure;

2. The Respondent shall pay a fine in the amount of $25,000, pursuant to section 24.1(b) of By-law No. 1 (“Fine”);

3. The Respondent shall pay the costs of this proceeding and investigation in the amount of $2,500 on, pursuant to section 24.2 of By-law No. 1 (“Costs”);

4. The Respondent is not required to commence paying the Fine and Costs until February 11, 2018, which is 120 days from the date of this Order;

5. Commencing February 11, 2018, the Respondent shall:
   1. pay the Fine and Costs in 24 consecutive monthly installments of $1,145.83 (“Monthly Payments”); and
   2. make the Monthly Payments on the 11^th day of each month, per the timetable attached hereto as Schedule “A”;

6. The Fine and Costs shall be paid in full by the Respondent no later than January 11, 2020.