Order

WHEREAS on April 3, 2019, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a Notice of Settlement Hearing pursuant to section 24.4 of By-law No. 1 in respect of Randal Rae Wilson (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated April 3, 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 on July 22, 2019, Staff of the MFDA and counsel for the Respondent attended a settlement hearing in this matter and made submissions before a  Hearing Panel of the Pacific Region;

AND WHEREAS the Hearing Panel is of the opinion that,

1. between January 2014 and April 2017, the Respondent altered, and used to process transactions, 13 account forms in respect of 12 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and
2. between June 2012 and August 2017, the Respondent obtained, possessed, and used to process transactions, 7 pre-signed account forms in respect of 5 clients, contrary to the Member’s policies and procedures and 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 of $11,000 in certified funds upon acceptance of the Settlement Agreement, pursuant to Section 24.1.1(b) of MFDA Bylaw No. 1 (“Fine”);
2. The Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of the Settlement Agreement, pursuant to section 24.2 of Bylaw No. 1 (“Costs”);
3. The payment by the Respondent of the Fine and Costs shall be made to and received by MFDA Staff in certified funds as follows:
   1. $2,500 (Fine) upon acceptance of the Settlement Agreement;
   2. $2,500 (Costs) upon acceptance of the Settlement Agreement;
   3. $2,125 (Fine) on or before August 30, 2019;
   4. $2,125 (Fine) on or before September 30, 2019;
   5. $2,125 (Fine) on or before October 31, 2019;
   6. $2,125 (Fine) on or before November 29, 2019;
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.