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File No. 2017109

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: Navdeep Singh Sandhu

Order

(ARISING FROM SETTLEMENT HEARING ON APRIL 3, 2018)

WHEREAS on October 27, 2017, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Settlement Hearing in respect of Navdeep Singh Sandhu (“Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated October 20, 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. between April 2010 and June 2016, the Respondent obtained, possessed and used to process transactions, 83 pre-signed account forms in respect of 10 clients, 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 be prohibited from acting in the capacity as a branch manager or supervisor while in the employ of or associated with any Member of the MFDA for a period of 12 months, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
  1. the Respondent shall successfully complete the Branch Manager Course offered by the Canadian Securities Institute prior to acting as a branch manager;
  1. the Respondent shall pay a fine of $15,000, pursuant to Section 24.1.1(b) of MFDA Bylaw No. 1;
  1. the Respondent shall pay costs in the amount of $2,500, pursuant to section 24.2 of Bylaw No. 1; and
  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.

DATED: Apr 3, 2018

"Robert G. Ward"

Robert G. Ward

Chair


"Holly A. Millar"

Holly A. Millar

Industry Representative


"Barbara E. Fraser"

Barbara E. Fraser

Industry Representative


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