Notice of Settlement Hearing

The subject matter of the proposed Settlement Agreement concerns matters for which the Respondent may be disciplined as a Member of the MFDA, pursuant to sections 20 and 24.1.2 of By-law No. 1 of the MFDA.

PARTICULARS

1. The proposed Settlement Agreement concerns allegations that the Respondent:
   1. between August 20, 2014 and September 16, 2014, failed to conduct adequate due diligence on Approved Person, BG’s referral arrangement, contrary to MFDA Rule 2.5.1 and MFDA Policy No. 2;
   2. from April 2016 to December 2016, failed to maintain a tier two supervision structure for its Approved Persons, contrary to MFDA Rule 2.5.1 and MFDA Policy No. 2; and
   3. from June 2016 to March 7, 2018, failed to conduct supervisory reviews of quarterly trend analysis reports, contrary to the Respondent’s policies and procedures, MFDA Rule 2.5.1 and MFDA Policy No. 2.

2. MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure.