Order

WHEREAS on September 7, 2022, the Mutual Fund Dealers Association of Canada (the “MFDA”) provided notice to the public of a Settlement Hearing in respect of Sandra Rizovska-Spasik (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated August 11, 2022 (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 MFDA By-law No. 1;

AND WHEREAS the Hearing Panel is of the opinion that the Respondent, between August 6, 2020 and November 9, 2020, cut and pasted client signatures from copies of account forms previously signed by clients on 4 new account forms, and submitted the account forms to the Member for processing, 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 $13,000, pursuant to s. 24.1.1(b) of MFDA By-law No. 1;
2. The Respondent shall pay costs in the amount of $2,500, pursuant to s. 24.2 of MFDA By-law No 1.
3. The payment by the Respondent of the fine and costs shall be made to and received by the MFDA in certified funds as follows:
   1. $8,000 (fine) upon acceptance of the Settlement Agreement by the Hearing Panel;
   2. $2,500 (costs) upon acceptance of the Settlement Agreement by the Hearing Panel;
   3. $1,000 (fine) on or before September 30, 2022;
   4. $2,000 (fine) on or before October 31, 2022;
   5. $2,000 (fine) on or before November 30, 2022;
4. The Respondent shall in the future comply with MFDA Rule 2.1.1; and
5. 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.