Common use of JOINT SETTLEMENT RECOMMENDATION Clause in Contracts

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 and February 2017, the Respondent falsified, and used to process transactions, 22 account forms in respect of 17 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 and December 2016, the Respondent obtained, possessed, and used to process transactions, 7 pre-signed account forms in respect of 6 clients, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 in certified funds upon acceptance of this Settlement Agreement, pursuant to section 24.1.1(b) of By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this Settlement Agreement, pursuant to section 24.2 of By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 February 2011 and February 2017, the Respondent falsifiedobtained, possessed, and in some instances, used to process transactions, 22 29 pre-signed account forms in respect of 17 clients by altering information on the account forms without having the client initial the alterations23 clients, contrary to MFDA Rule 2.1.1; and b) between March 2009 and December 2016on or about September 23, 2013, the Respondent obtained, possessed, and used to process transactions, 7 pre-signed altered one account forms form in respect of 6 clientsone client by altering information on the account form without having the client initial the alterations, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.1.1(b) of MFDA By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.2 of MFDA By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, person on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 January 2013 and February 2017January 2016, the Respondent falsified, altered and used to process transactions, 22 transactions 11 account forms in respect of 17 10 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 January 2012 and December 2016May 2018, the Respondent obtained, possessedpossessed and, and in some instances, used to process transactions, 7 8 pre-signed account forms in respect of 6 7 clients, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 15,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.1.1(b) of MFDA By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.2 of MFDA By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 February 15, 2018 and February 2017March 6, 2019, the Respondent falsifiedobtained, possessed, and used to process transactions, 22 11 pre-signed account forms in respect of 17 clients 8 clients, contrary to MFDA Rule 2.1.1; and b) between January 21, 2015 and March 28, 2019, the Respondent altered and used to process transactions, 15 account forms in respect of 13 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 and December 2016, the Respondent obtained, possessed, and used to process transactions, 7 pre-signed account forms in respect of 6 clients, contrary to MFDA Rule 2.1.1.2.1.1.‌‌ 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 14,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.1.1(b) of MFDA By-law No. 1No.1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.2 of MFDA By-law No. 1No.1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, by videoconference on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 April 2014 and February 2017May 2016, the Respondent falsified, altered and used to process transactions, 22 2 account forms in respect of 17 2 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 2011 and December 2016August 2018, the Respondent obtained, possessed, and used to process transactions, 7 6 pre-signed account forms in respect of 6 5 clients, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 11,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.1.1(b) of MFDA By-law No. 1No.1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.2 of MFDA By-law No. 1No.1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, person on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 and February 2017in August 2015, the Respondent falsified, altered and used to process transactions, 22 a transaction 1 account forms form in respect of 17 clients 1 client by altering information on the account forms form without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 May 2013 and December 2016October 2018, the Respondent obtained, possessedpossessed and in some instances, and used to process transactions, 7 30 pre-signed account forms in respect of 6 16 clients, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 8,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.1.1(b) of MFDA By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.2 of MFDA By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 September 2013 and February 2017May 2019, the Respondent falsifiedobtained, possessed, and used to process transactions, 22 18 pre-signed account forms in respect of 17 clients by altering information on the account forms without having the client initial the alterations12 clients, contrary to MFDA Rule 2.1.1; and b) between March 2009 2015 and December 2016September 2017, the Respondent obtained, possessed, altered and used to process transactions, 7 pre-signed 5 account forms in respect of 6 4 clients, by altering the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 6,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.1.1(b) of MFDA By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 5,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section s. 24.2 of MFDA By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 January 21, 2016 and February 2017September 3, the Respondent falsified, and used to process transactions, 22 account forms in respect of 17 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 and December 2016, the Respondent obtained, possessed, and used to process transactions, 7 pre-signed the signatures of 2 clients on 2 account forms in respect of 6 clientsand submitted the forms to the Member for processing, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall be prohibited from conducting securities related business in any capacity while in the employ of or associated with a MFDA Member for a period of 6 months, to commence from the date of the Order, pursuant to s. 24.1.1(b) of MFDA By-law No.1; b) the Respondent shall pay a fine in the amount of $13,000 2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section Section 24.1.1(b) of By-law MFDA Bylaw No. 1; bc) the Respondent shall pay costs in the amount of $2,500 2,500, in certified funds upon acceptance of this the Settlement Agreement, pursuant to section 24.2 of By-law Bylaw No. 1; cd) the Respondent shall in the future comply with MFDA Rule 2.1.1; and de) the Respondent will attend the Settlement Hearing in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 July 2015 and February 2017November 2016, the Respondent falsified, and used to process transactions, 22 6 account forms in respect of 17 8 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March February 2009 and December 2016February 2017, the Respondent obtained, possessed, and in some instances, used to process transactions, 7 80 pre-signed account forms in respect of 6 57 clients, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 17,000 in certified funds upon acceptance of this Settlement Agreement, pursuant to section 24.1.1(b) of By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this Settlement Agreement, pursuant to section 24.2 of By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 and February In May 2017, the Respondent falsifieddirected his assistant, and used for whom he was responsible, to process transactions, 22 alter information on 2 client account forms in respect of 17 clients by altering information 1 client, and sign the client’s initials on the account forms without having the client initial the alterationsforms, contrary to MFDA Rule 2.1.1; and; b) between March 2009 and December 2016In February 2015, the Respondent obtained, possessed, and used to process transactionsused, 7 1 pre-signed account forms form in respect of 6 2 clients, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the The Respondent shall pay a fine in the amount of $13,000 7,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section 24.1.1(b) of By-law No. 1; b) the The Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section 24.2 of By-law No. 1; c) the The Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the The Respondent will attend the Settlement Hearing in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 January 2013 and February 2017, the Respondent falsifiedaltered, and used to process transactions, 22 19 account forms in respect of 17 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and b) between March 2009 and December on or about January 8, 2016, the Respondent obtained, possessed, and used to process transactions, 7 2 pre-signed account forms in respect of 6 clientsa client, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 11,500 in certified funds upon acceptance of this Settlement Agreement, pursuant to section 24.1.1(b) of By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500 in certified funds upon acceptance of this Settlement Agreement, pursuant to section 24.2 of By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.

JOINT SETTLEMENT RECOMMENDATION. 3. Staff and the Respondent jointly recommend that the Hearing Panel accept the Settlement Agreement. 4. The Respondent admits to the following violations of the By-laws, Rules or Policies of the Mutual Fund Dealers Association of Canada (“MFDA”): a) between December 2009 October 13, 2013 and February January 31, 2017, the Respondent falsifiedobtained, possessed, and in some instances, used to process transactions, 22 23 pre-signed account forms in respect of 17 clients by altering information on the account forms without having the client initial the alterations16 clients, contrary to MFDA Rule 2.1.1; and b) between March 2009 August 19, 2013 and December August 19, 2016, the Respondent obtained, possessed, falsified and used to process transactions, 7 pre-signed 10 client account forms form in respect of 6 9 clients, by altering the client account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1. 5. Staff and the Respondent agree and consent to the following terms of settlement: a) the Respondent shall pay a fine in the amount of $13,000 11,000 in certified funds upon acceptance of this the Settlement Agreement, pursuant to section Section 24.1.1(b) of By-law MFDA Bylaw No. 1; b) the Respondent shall pay costs in the amount of $2,500 2,500, in certified funds upon acceptance of this the Settlement Agreement, pursuant to section 24.2 of By-law Bylaw No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1; and d) the Respondent will attend the Settlement Hearing in person, on the date set for the Settlement Hearing. 6. Staff and the Respondent agree to the settlement on the basis of the facts set out in Part III herein and consent to the making of an Order in the form attached as Schedule “A”.