Order

WHEREAS on June 4, 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 Tamera Jean Williams and Todd Russell Williams (collectively, the “Respondents”);

AND WHEREAS the Respondents entered into a settlement agreement with Staff of the MFDA, dated June 9, 2018 (“Settlement Agreement”), in which the Respondents agreed to a proposed settlement of matters for which the Respondents 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, Tamera Jean Williams:

1. on or about June 13, 2015, altered information on an account form that had been previously signed by a client and used in a previous transaction in order to process a new transaction in the client’s account, contrary to MFDA Rule 2.1.1;
2. between April 2012 and September 2016, falsified 89 account forms in respect of 43 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
3. between July 2011 and February 2016, obtained, possessed, and in some instances, used to process transactions, 18 pre-signed account forms in respect of 11 clients, contrary to MFDA Rule 2.1.1;

AND WHEREAS the Hearing Panel is of the opinion that the Respondent, Todd Russell Williams:

1. on or about January 8, 2013, altered information on an account form that had been previously signed by a client and used in a previous transaction in order to process a new transaction in the client’s account, contrary to MFDA Rule 2.1.1;
2. between August 2011 and July 2016, falsified 24 account forms in respect of 21 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
3. between July 2011 and March 2016, obtained, possessed, and in some instances, used to process transactions, 14 pre-signed account forms in respect of 10 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 Tamera Jean Williams shall pay a fine in the amount of $15,000 in certified funds pursuant to s. 24.1.1.(b) of MFDA By-law No. 1;

2. The Respondent Tamera Jean Williams shall be prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of six months pursuant to s. 24.1.1(e) of MFDA By-Law No. 1;

3. The Respondent Todd Russell Williams shall pay a fine in the amount of $12,500 in certified funds pursuant to s. 24.1.1.(b) of MFDA By-law No. 1;

4. The Respondents shall, jointly and severally, pay costs in the amount of $2,500 in certified funds pursuant to s. 24.2 of MFDA By-law No. 1;

5. The Respondents 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.