Order

WHEREAS on January 26, 2017, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Settlement Hearing pursuant to section 24.4 of By-law No. 1 in respect of Terry Edward Barrett (“Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated June 8, 2017 (“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:

1. on or around July 25, 2014, the Respondent obtained, possessed, and used to process a transaction, 1 pre-signed account form in respect of 1 client, contrary to MFDA Rule 2.1.1;
2. on or about January 24, 2012, the Respondent failed to have a client initial alterations to an account form that the client had made after the client had signed the account form, contrary to MFDA Rule 2.1.1; and
3. between 2013 and 2014, on two occasions, the Respondent failed to accurately respond to the Member’s annual compliance questionnaire by incorrectly affirming that he did not accept or solicit pre-signed account forms or maintain pre-signed account forms in client files, 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 $5,000 pursuant to s. 24.1.1(b) of MFDA By-law No. 1 (“Fine”);

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

3. the Respondent shall pay the Fine and Costs in certified funds as follows:
   1. $2,500 (Costs) upon entering into the Settlement Agreement;
   2. $833.33 on the last business day of September, 2017;
   3. $833.33 on the last business day of October, 2017;
   4. $833.33 on the last business day of November, 2017;
   5. $833.33 on the last business day of December, 2017;
   6. $833.33 on the last business day of January, 2018; and
   7. $833.33 on the last business day of February, 2018;

4. the Respondent fails to make any of the payments described above in paragraph 3 then:
   1. any outstanding balance of the Fine and Costs owed by the Respondent shall immediately become due and payable to the MFDA; and
   2. the Respondent shall immediately be suspended from conducting securities related business while in the employ of or associated with a Member of the MFDA until such time as the total amount outstanding of the Fine and Costs owed by the Respondent is paid to the MFDA, pursuant to section 24.3.13(c) of MFDA By-law No. 1;

5. the Respondent shall in the future comply with MFDA Rule 2.1.1; and

6. 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.