Notice of Settlement Hearing

NOTICE is hereby given that an electronic hearing will be held before a hearing panel of the Pacific Regional Council (“Hearing Panel”) of the Mutual Fund Dealers Association of Canada (“MFDA”) on January 20, 2021 at 10:00 a.m. (Pacific), or as soon thereafter as the hearing can be held, to consider whether, pursuant to section 24.4 of By-law No. 1 of the MFDA, the Hearing Panel should accept the settlement agreement (the “Settlement Agreement”) entered into between Staff of the MFDA and Vanessa Doreen Sjostrom (the “Respondent”).

The subject matter of the proposed Settlement Agreement concerns matters for which the Respondent may be disciplined as an approved person of the MFDA, pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA.

PARTICULARS

1. The proposed Settlement Agreement concerns allegations that the Respondent:
   1. between about January 2009 and May 2016, failed to ensure that investment recommendations she made to 7 clients to invest in precious metals sector mutual funds were suitable having regard to the risks associated with concentrating their investment portfolio in precious metals sector mutual funds, contrary to MFDA Rule 2.2.1; and
   2. between January 2014 and October 2015, did not adequately explain the risks of investing in precious metals sector mutual funds to 5 clients, thereby failing to ensure that her recommendations were suitable for the clients and in keeping with their investment objectives, contrary to MFDA Rule 2.2.1.
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.