File No. 2017120
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: Stephanie See-Wing Ho
(ARISING FROM SETTLEMENT HEARING ON FEBRUARY 5, 2018)
WHEREAS on December 20, 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 Stephanie See-Wing Ho (“Respondent”);
AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated December 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 based upon the admissions of the Respondent, the Hearing Panel is of the opinion that between November 2013 and June 2015, the Respondent engaged in outside business activities by among other things, serving as a director of a mortgage investment corporation (the “MIC”), and by opening a bank account for the MIC without obtaining prior approval from the Member to engage in such conduct, contrary to former MFDA Rule 1.2.1(c) [now MFDA Rule 1.3] and the policies and procedures of the Member.
IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a consequence of which:
- the Respondent shall be prohibited from conducting securities related business in any capacity while in the employ of or associated with any Member of the MFDA for a period of three months commencing from the date of this Order, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
- the Respondent shall pay a fine in the amount of $10,000, pursuant to s. 24.1.1(b) of MFDA By-law No. 1;
- the Respondent shall pay costs to the MFDA in the amount of $5,000, pursuant to s. 24.2 of MFDA By-law No. 1;
DATED: Feb 5, 2018
"Linda J. Anderson"
Linda J. Anderson