Order

WHEREAS on [date], 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 Winston King-Loong Kuit (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated [date] (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 on the basis of the admissions of the Respondent as set out in the Settlement Agreement, the Hearing Panel is of the opinion that the Respondent,

1. between 2010 and August 2013, the Respondent recommended, sold, referred or facilitated the sale of approximately $1.55 million in investments in Financial Group Inc. (“SBC”) to 7 clients, 7 former clients and 4 other individuals, outside the facilities of PIP and IPC, contrary to MFDA Rules 1.1.1 and 2.1.1; and
2. in November 2012, the Respondent completed an annual compliance questionnaire for his Member which contained responses that were false and misleading, thereby interfering with the Member’s ability to supervise his conduct, contrary to MFDA Rule 2.1.1.

AND WHEREAS the Respondent has also entered into a settlement agreement with respect to the British Columbia Securities Commission dated [date] (the “BCSC Settlement Agreement”), in which the Respondent has agreed to certain prohibitions on registerable activities, to disgorge $147,500 in remuneration he received in respect of his involvement with SBC, and to pay $20,000 to the BCSC in respect of the settlement;

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

1. The Respondent shall be permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member, commencing from the date of the Hearing Panel’s Order, pursuant to section 24.1.1(e) of MFDA Bylaw No. 1; and

2. 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.