File No. 201846
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: Andrew Thomas Gilchrist
(ARISING FROM SETTLEMENT HEARING ON JUNE 5, 2018)
WHEREAS on April 12 2018, 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 Andrew Thomas Gilchrist (the “Respondent”);
AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated April 30, 2018 (“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:
- between April 2013 and December 2015, obtained, possessed, and/or used to process transactions, 25 pre-signed account forms in respect of elven clients, contrary to MFDA Rule 2.1.1.
IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a consequence of which:
- the Respondent shall pay a fine in the amount of $8,000 pursuant to section 24.1.1(b) of By-law No. 1;
- the Respondent shall pay costs in the amount of $2,500, pursuant to section 24.2 of By-law No. 1;
- the Respondent shall in the future comply with MFDA Rules 2.1.1; and
DATED: Jun 5, 2018
"Ian H. Pitfield"
Ian H. Pitfield
"Barbara E. Fraser"
Barbara E. Fraser