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HomeCompleted Hearings201846 - Andrew Thomas Gilchrist › Order201846

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

Order

(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:

  1. 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:

  1. the Respondent shall pay a fine in the amount of $8,000 pursuant to section 24.1.1(b) of By-law No. 1;
  1. the Respondent shall pay costs in the amount of $2,500, pursuant to section 24.2 of By-law No. 1;
  1. the Respondent shall in the future comply with MFDA Rules 2.1.1; and
  1. 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: Jun 5, 2018

"Ian H. Pitfield"

Ian H. Pitfield

Chair


"Barbara E. Fraser"

Barbara E. Fraser

Industry Representative


"Kathleen Jost"

Kathleen Jost

Industry Representative


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