MFDA Order

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File No. 202054

IN THE MATTER OF A DISCIPLINARY HEARING PURSUANT TO SECTIONS 20 AND 24 OF BY-LAW NO. 1 OF THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re: King Kwong Clement Chow

Order

(ARISING FROM PENALTY HEARING ON AUGUST 25, 2021)

WHEREAS on of October 7, 2020, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a Notice of Hearing pursuant to sections 20 and 24 of By-law No. 1 in respect of a disciplinary proceeding commenced against King Kwong Clement Chow (the “Respondent”);

AND WHEREAS on March 17, 2021, and subsequently on May 3, 2021, the Hearing Panel conducted a hearing on the merits of this matter (“Hearing”);

AND WHEREAS the Hearing Panel considered the evidence and submissions presented by Staff of the MFDA at the Hearing;

AND WHEREAS the Hearing Panel finds that:

  1. Commencing in November 2018, the Respondent failed to cooperate with an investigation by MFDA Staff into his conduct, contrary to section 22.1 of MFDA By-Law No. 1.

IT IS HEREBY ORDERED THAT:

  1. The Respondent is permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
  2. The Respondent shall pay a fine in the amount of $50,000, pursuant to section 24.1.1(b) of By-law No. 1;
  3. The Respondent shall pay costs in the amount of $7,500, pursuant to section 24.2 of By-law No. 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.

DATED: Aug 25, 2021

"Sherri Walsh"

Sherri Walsh

Chair


"Adam Dudley"

Adam Dudley

Industry Representative


"Greg Wiebe"

Greg Wiebe

Industry Representative


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