Order

WHEREAS on May 15, 2018, the Mutual Fund Dealers Association of Canada (the “MFDA”) issued a Notice of Hearing pursuant to section 24.4 of By-law No. 1 in respect of Joseph Terrance Sask (the “Respondent”);

AND WHEREAS the Respondent entered into a settlement agreement with Staff of the MFDA, dated March 19, 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 the Hearing Panel is of the opinion that the Respondent:

1. between September 2011 and October 2015, the Respondent altered 26 account forms in respect of 16 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.; and
2. between June 2011 and September 2016, the Respondent obtained, possessed, and in one instance used, 6 pre-signed account forms in respect of 5 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 shall pay a fine in the amount of $10,500, pursuant to section 24.1.1(b) of By-law No. 1;
2. the Respondent shall pay costs in the amount of $2,500, pursuant to section 24.2 of By-law No. 1;
3. the payment by the Respondent of the fine and costs described above shall be made to and received by MFDA Staff in certified funds as follows:
   1. $6,500 (costs and fine) upon acceptance of the Settlement Agreement by the Hearing Panel;
   2. $6,500 (fine) on or before last business day of the first month following the acceptance of the Settlement Agreement by the Hearing Panel;
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.