Notice of Settlement Hearing

NOTICE is hereby given that an electronic hearing will be held before a hearing panel of the Central Regional Council (the “Hearing Panel”) of the Mutual Fund Dealers Association of Canada (the “MFDA”) on August 18, 2021 at 10:00 a.m. (Eastern), 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 David Juno McMillan (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 sections 20 and 24.1.2 of By-law No. 1 of the MFDA.

PARTICULARS

1. The proposed Settlement Agreement concerns allegations that:
   1. between August 23, 2017 and November 4, 2019, the Respondent obtained, possessed and used to process transactions, 83 pre-signed account forms in respect of 57 clients, contrary to MFDA Rule 1.1;
   2. between October 13, 2017 and June 9, 2019, the Respondent altered and used to process transactions, 11 account forms in respect of 12 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and
   3. on or about October 1, 2018 and December 19, 2018, the Respondent re-used the signatures of 2 clients on 3 account forms by photocopying a signature from a previously signed form to complete a new transaction and submitting the account forms to the Member for processing, contrary to MFDA Rule 2.1.1.
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. If the Hearing Panel accepts the Settlement Agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at mfda.ca.