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File No. 2018126

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: Shaun David Collier

Order

(ARISING FROM SETTLEMENT HEARING ON MARCH 28, 2019)

WHEREAS on December 14, 2018, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a Notice of Hearing pursuant to ss. 20 and 24 of By-law No. 1 in respect of Shaun David Collier (the “ Respondent” );

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated January 8, 2019 (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:

  1. between March 2006 and February 2017, the Respondent obtained, possessed, and in some instances, used to process transactions, 12 pre-signed account forms in respect of 6 clients, contrary to MFDA Rule 2.1.1;
  2. between September 2009 and May 2011, the Respondent altered, and used to process transactions, 7 account forms in respect of 4 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
  3. on or about January 12, 2010, the Respondent cut and pasted 2 client signatures from copies of account forms previously signed by 2 clients onto new account forms, and submitted the account forms for processing, 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 as a branch manager or in a supervisory position 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(f) of MFDA By-law No. 1;
  2. The Respondent shall successfully complete the branch manager course offered by either the Canadian Securities Institute or the Investment Funds Institute of Canada prior to acting as a branch manager in the future, pursuant to s. 24.1.1(f) of MFDA By-law No. 1;
  3. The Respondent shall pay a fine in the amount of $13,000 in certified funds upon acceptance of the Settlement Agreement, pursuant to s. 24.1.1(b) of MFDA By-law No.1;
  4. The Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of the Settlement Agreement, pursuant to s. 24.2 of MFDA By-law No.1;
  5. The Respondent shall in the future comply with MFDA Rule 2.1.1; and
  6. 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: Mar 28, 2019

"Paul M. Moore"

Paul M. Moore

Chair


"Guenther W. K. Kleberg"

Guenther W. K. Kleberg

Industry Representative


"Brigitte J. Geisler"

Brigitte J. Geisler

Industry Representative


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