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IN THE MATTER OF A DISCIPLINARY HEARING PURSUANT TO SECTIONS 24.4 OF BY-LAW NO. 1 OF THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re: Saied Jamshidi

Order

(ARISING FROM SETTLEMENT HEARING ON APRIL 25, 2018)

WHEREAS on November 22, 2017, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Settlement Hearing in respect of Saied Jamshidi (“Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated November 16, 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 the Respondent:

  1. on December 3, 2015, signed the signature of one client on one account form and submitted the form to the Member for processing, contrary to MFDA Rule 2.1.1; and
  2. on December 4, 2015, falsely represented to his assistant branch manager that a client had attended at the branch and signed an account form, contrary to MFDA Rule 2.1.1.

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

  1. shall pay a fine of $5,000, pursuant to Section 24.1.1(b) of MFDA Bylaw No. 1;
  1. 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 25, 2018

"The Hon. Thomas R. Braidwood, QC"

The Hon. Thomas R. Braidwood, QC

Chair


"Holly A. Millar"

Holly A. Millar

Industry Representative


"Darlene Barker "

Darlene Barker

Industry Representative


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