Order

WHEREAS on February 13, 2017, 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 Peter Ewens (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated February 14, 2017 (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 the Hearing Panel is of the opinion that, between November 29, 2013 and August 2014, the Respondent processed approximately 53 authorized discretionary trades as part of a dollar-cost averaging strategy in relation to 1 client, contrary to MFDA Rules 2.3.1 and 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 $11,500 pursuant to section 24.1.1(b) of By-law No. 1;

2. The Respondent shall pay costs in the amount of $2,500 pursuant to section 24.2 of By-law No. 1;

3. The Respondent shall in the future comply with MFDA Rules 2.3.1 and 2.1.1; and

4. 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.