Order

WHEREAS the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a News Release dated May 16, 2018, pursuant to Section 24.4 of By-law No. 1, in respect of Ryan Raymond Edward Dibbley (the “Respondent”);

AND WHEREAS the Respondent entered into a Settlement Agreement with Staff of the MFDA dated May 11, 2018 (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 the Hearing Panel is of the opinion that the Respondent:

1. between October 2012, and May 9, 2014, failed to disclose to the Member two outside business activities for which he was named officer and/or director, contrary to MFDA Rules 1.2.1(c) (now MFDA Rule 1.3.2);
2. between 2013 and May 9, 2014, in his capacity as branch manager, did not adequately query or report to the Member unapproved outside business activities at the branch location supervised by the Respondent, contrary to MFDA Rules 2.5.5(f); and
3. between January 2014 and May 9, 2014, in his capacity as a branch manager, failed to adequately query or advise the Member of information concerning financial difficulties at the branch location supervised by the Respondent, contrary to MFDA Rules 2.5.5(f).

IT IS HEREBY ORDERED THAT the Settlement Agreement is accepted, as a consequence of which:

1. the Respondent shall be prohibited from acting in the position of a branch manager while in the employ of or associated with any MFDA Member for a period of six (6) months effective from the date of the Order, pursuant to section 24.1.1(c) of MFDA By-law No. 1;

2. the Respondent shall pay a fine in the amount of $5,000 pursuant to s. 24.1.1(b) of MFDA By-Law No. 1;

3. the Respondent shall pay costs in the amount of $2,500 pursuant to s. 24.2 of MFDA By-Law No 1;

4. the payment by the Respondent of the fine and costs described above in paragraphs 2 and 3 shall be made to and received by MFDA Staff in certified funds as follows:
   1. $2,500 (costs) shall be paid upon acceptance of the Settlement Agreement by the Hearing Panel;
   2. $1,000 (fine) shall be paid on or before July 31, 2018;
   3. $1,000 (fine) shall be paid on or before August 31, 2018;
   4. $1,000 (fine) shall be paid on or before September 28, 2018;
   5. $1,000 (fine) shall be paid on or before October 31, 2018; and
   6. $1,000 (fine) shall be paid on or before November 20, 2018;

5. if the Respondent fails to make any of the payments described above in paragraph 4 then:
   1. any outstanding balance of the fine and costs owed by the Respondent shall immediately become due and payable to the MFDA; and
   2. the Respondent shall be prohibited from conducting securities related business while in the employ of or associated with a Member of the MFDA until such time as the total amount outstanding of the fine and costs owed by the Respondent is paid to the MFDA, pursuant to section 24.3.13(c) of MFDA By-law No. 1.

6. the Respondent shall in the future comply with MFDA Rules 2.5.5(f) and 1.2.1(c) (now MFDA Rule 1.3.2); and

7. 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.