Order

WHEREAS on March 15, 2018, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Hearing pursuant to section 24.4 of By-law No. 1 in respect of David Tobac (“Respondent”);

AND WHEREAS the first appearance in this hearing was held before a hearing panel of the Prairie Regional Council of the MFDA (the “Hearing Panel”) on April 13, 2018;

AND WHEREAS the Respondent and MFDA Staff entered into an Agreed Statement of Facts dated April 24, 2018;

AND WHEREAS on June 26, 2018 the Hearing Panel conducted a hearing of the matters as described in the Notice of Hearing;

AND WHEREAS the Hearing Panel is of the opinion that the Respondent:

1. on October 12, 2016, the Respondent processed a redemption in a client account based on instructions from someone other than the client, contrary to MFDA Rule 2.1.1 and 2.3.1.

IT IS HEREBY ORDERED THAT:

1. the Respondent shall pay a fine in the amount of $20,000 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 2.1.1 and 2.3.1; 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.