Common use of AGREED FACTS Registration History Clause in Contracts

AGREED FACTS Registration History. 7. Between December 2015 and March 2016, the Respondent was registered in Ontario as a mutual fund salesperson (now known as a Dealing Representative) with BMO Investments Inc. (“BMO”), a Member of the MFDA. 8. On March 30, 2016, BMO terminated the Respondent’s registration as a result of the conduct that is the subject of this Settlement Agreement, and the Respondent is no longer registered in the securities industry in any capacity. 9. At all material times, the Respondent conducted business in the Toronto, Ontario area. 10. On February 26, 2016, the Respondent met with client IV to open a mutual fund account and subsequently submitted the relevant account forms to his branch manager for review. 11. On February 29, 2016, the branch manager reviewed the account forms, identified that the New Account Application Form (the “NAAF”) was missing, and requested that the Respondent provide him with the NAAF. 12. In response to the branch manager’s inquiry, the Respondent created a new NAAF (the “Form”) and signed client IV’s signature on the Form. 13. Within a few hours of the branch manager’s request, the Respondent submitted the Form for review and falsely advised the branch manager that the Respondent had found the missing NAAF. 14. After receiving the Form, the branch manager reviewed it and asked the Respondent whether client IV had signed the Form. The Respondent admitted that he had signed client IV’s signature on the Form. 15. On March 3, 2016, the Respondent provided BMO’s compliance department with a written statement in respect of the Form, in which he falsely advised BMO that client IV had signed the Form. 16. On March 16, 2016, during an interview with BMO, the Respondent admitted that he had signed client IV’s signature on the Form. 17. As part of its investigation, BMO reviewed a sample of the client files serviced by the Respondent and identified no further concerns. 18. On March 30, 2016, BMO terminated the Respondent’s registration. 19. There is no evidence that the Respondent received any benefit from the conduct set out above. 20. There is no evidence of client loss. 21. The Respondent has not previously been the subject of MFDA disciplinary proceedings. 22. By entering into this Settlement Agreement, the Respondent has accepted responsibility for his misconduct and has saved the MFDA the time, resources, and expenses associated with conducting a full hearing on the allegations.

AGREED FACTS Registration History. 7. Between December 2015 and March 2016Since 1997, the Respondent was has been registered in Ontario as a mutual fund salesperson (now known as a Dealing Representative) ). 8. Since 2006, the Respondent has been registered with BMO Investments Xxxxxxxxxx Financial Security Investment Inc. (“BMOXxxxxxxxxx”), a Member of the MFDA. 8. On March 30, 2016, BMO terminated the Respondent’s registration MFDA and Xxxxxxxxxx has designated him as a result of the conduct that is the subject of this Settlement Agreement, and the Respondent is no longer registered in the securities industry in any capacitybranch manager. 9. At all material times, the Respondent conducted business in the TorontoRichmond Hill, Ontario area. 10. At all material times, client GS was a client of the Member whose account was serviced by the Respondent. 11. At all material times, Xxxxxxxxxx’ policies and procedures permitted clients to sign a Limited Trade Authorization (“LTA”), a document that authorizes Approved Persons to accept verbal or email instructions and conduct transactions without written instructions from a client in certain circumstances. 12. On February 26January 5, 2015, client GS signed an LTA. 13. Commencing on or about December 8, 2015, unbeknownst to client GS and unbeknownst to the Respondent, an unknown individual (the “Third Party”) gained unlawful access to client GS’s email account and proceeded to correspond with the Respondent, purporting to be GS. As a result of the email communications, the Respondent processed redemptions in client GS’s account that were deposited into a bank account that, unbeknownst to the Respondent, did not belong to client GS. 14. At all material times, the Member’s policies and procedures required that upon receiving a client request to change the banking information on record, its Approved Persons, including the Respondent, obtain a signed account form from the client authorizing the change. 15. On December 16, 2015, the Third Party, posing as client GS, sent an email to the Respondent and requested that the Respondent change client GS’s bank account information to an account at TD Canada Trust (the “TD Account”). 16. The Respondent believed the said email instructions were those of client GS. In contravention of Xxxxxxxxxx’ policies and procedures, however, the Respondent changed the banking information on Xxxxxxxxxx’ back office system without having asked for and obtained a signed account form from client GS authorizing the change in information. 17. At all material times, Xxxxxxxxxx’ policies and procedures stated that where a client has signed a LTA and therefore may provide instructions via telephone, fax or email, it is still incumbent on the Approved Person to ensure that he or she is communicating with the client and not a different person. 18. Commencing on December 21, 2015, the Third Party, posing as client GS (which was unbeknownst to the Respondent), sent the Respondent a series of emails requesting that the Respondent redeem $30,000 from client GS’s accounts at Xxxxxxxxxx and deposit the monies into the TD Account. 19. On December 31, 2015, the Respondent processed the redemption from client GS’s Tax Free Savings Account (“TFSA) by redeeming monies from the sale of the only mutual fund held in the account, and the monies were deposited into the TD Account (the “First Redemption”). 20. On January 18, 2016, the Third Party sent the Respondent met with another email, posing as client IV GS (again, unbeknownst to open a mutual fund account and subsequently submitted the relevant account forms to his branch manager for review. 11. On February 29, 2016, the branch manager reviewed the account forms, identified that the New Account Application Form (the “NAAF”) was missingRespondent), and requested that the Respondent provide him with the NAAF. 12. In response to the branch manager’s inquiry, the Respondent created a new NAAF process another $30,000 (net) redemption from client GS’ Registered Retirement Savings Plan account (the “FormRRSP Account”) and signed deposit the monies into the TD Account (the “Second Redemption”). 21. The Respondent processed the redemption from client IVGS’s signature RRSP Account by redeeming $30,000 ($37,450 gross) and the monies were deposited into the TD Account.. 22. Prior to processing the First and Second Redemptions, it was incumbent on the Form. 13. Within a few hours of Respondent to take steps to verify that that he was communicating with client GS, particularly given the branch manager’s request, the Respondent submitted the Form for review and falsely advised the branch manager fact that the Respondent had found failed to obtain a signed document authorizing the missing NAAFchange in banking information leading up to the First and Second Redemptions. 1423. After receiving At all material times, Xxxxxxxxxx’ policies and procedures prohibited its Approved Persons, including the FormRespondent, from engaging in discretionary trading. 24. Unlike the First Redemption from client GS’s TFSA, where the monies were invested in one mutual fund, client GS’s monies were invested in several funds in his RRSP Account. 25. In respect of the Second Redemption, the branch manager reviewed it Respondent used his discretion to select which mutual funds to redeem and asked in what amount. 26. On or about February 1, 2016, Xxxxxxxxxx’ compliance department became aware of the Respondent whether conduct that is the subject of this Settlement Agreement, when client IV had signed the Form. The Respondent admitted GS advised Xxxxxxxxxx that he had signed client IV’s signature on not authorized the FormFirst and Second Redemptions. 15. On March 3, 2016, the Respondent provided BMO’s compliance department with a written statement in respect of the Form, in which he falsely advised BMO that client IV had signed the Form. 16. On March 16, 2016, during an interview with BMO, the Respondent admitted that he had signed client IV’s signature on the Form. 1727. As part of its investigation, BMO Xxxxxxxxxx reviewed a sample all banking change forms and selection of the client files serviced address change forms submitted by the Respondent over a two year period and all trades over a three year period and identified no further concernsother issues. 1828. On March May 30, 2016, BMO terminated Xxxxxxxxxx issued a warning letter to the Respondent.. 29. By on or around February 1, 2016, when the TD Account was frozen by the financial institution, only $14,000 of the proceeds of the First and Second Redemptions remained in the TD Account. Xxxxxxxxxx reversed the First and Second Redemptions in client GS’s registrationaccount. 1930. There is no evidence that the Respondent received any financial benefit from engaging in the conduct set out abovemisconduct described above other than the commissions or fees he would ordinarily be entitled to had the transactions been completed in the proper manner. 2031. There is no evidence that the Respondent had any actual knowledge that he was dealing with anyone other than client GS in respect of client lossthe transactions described above. 2132. The Respondent has not previously been the subject of MFDA disciplinary proceedings. 2233. By entering into this Settlement Agreement, the Respondent has accepted responsibility for his misconduct and has saved the MFDA the time, resources, and expenses associated with conducting a full hearing on the allegations.

AGREED FACTS Registration History. 76. Between December 2015 and March 2016Since January 16, 2004, the Respondent was has been registered in Ontario Manitoba as a mutual fund salesperson (now known as a Dealing Representativedealing representative) with BMO Investments Sterling Mutuals Inc. (“BMOSterling”), a Member of the MFDA. 8. On March 30, 2016, BMO terminated the Respondent’s registration as a result of the conduct that is the subject of this Settlement Agreement, and the Respondent is no longer registered in the securities industry in any capacity. 97. At all material times, Xxxxxxxx's policies and procedures did not permit its Approved Persons to have account transfer forms executed by clients until they were fully completed or to revise account transfer forms that had already been executed. 8. Xxxxxxxx’s policies and procedures also required that separate account transfer forms be executed for each account being transferred notwithstanding that the Respondent conducted business client was the same. 9. On approximately 28 occasions between February 20, 2012 and February 16, 2014 the Respondent, in respect of 14 client accounts, took one of the Toronto, Ontario areafollowing actions: (a) obtained an executed account transfer form from a client that was not fully completed; (b) corrected information on a client account form that had already been executed; or (c) used a photocopy of an account transfer form completed by a client in respect of one account to process the transfer another account. 10. On February 26one occasion during the same time period the, 2016, Respondent inserted information provided by a client in respect of an RESP withdrawal form after the Respondent met with client IV to open a mutual fund account and subsequently submitted had signed the relevant account forms to his branch manager for reviewpartially completed form. 11. On In about February 29or early March 2014, 2016Xxxxxxxx reviewed all of the client files maintained by the Respondent. Xxxxxxxx did not detect any use of pre-signed account forms beyond those described in paragraphs 9 and 10, the branch manager reviewed the account forms, identified that the New Account Application Form (the “NAAF”) was missing, and requested that the Respondent provide him with the NAAFabove. 12. In response On March 5, 2014, Xxxxxxxx issued a letter of reprimand to the branch managerRespondent and placed him under strict supervision. Xxxxxxxx is currently charging the Respondent a fee of 5% of his commissions earned in order to cover its costs of strict supervision. Xxxxxxxx will cease charging the 5% fee at the conclusion of Staff’s inquiryproceeding against the Respondent. To date, the Respondent created has paid approximately $19,244.21 in supervision fees as a new NAAF (result of the “Form”) and signed client IV’s signature on the Formstrict supervision requirements. 13. Within a few hours of The Respondent has been an Approved Person for more than 10 years and has no prior disciplinary history with the branch manager’s request, the Respondent submitted the Form for review and falsely advised the branch manager that the Respondent had found the missing NAAFMFDA. 14. After receiving the FormThere is no evidence of misappropriation, the branch manager reviewed it and asked the Respondent whether unauthorized trading, or client IV had signed the Form. The Respondent admitted that he had signed client IV’s signature on the Formharm in this matter. 15. On March 3, 2016, the Respondent provided BMO’s compliance department with a written statement in respect of the Form, in which he falsely advised BMO that client IV had signed the Form. 16. On March 16, 2016, during an interview with BMO, the Respondent admitted that he had signed client IV’s signature on the Form. 17. As part of its investigation, BMO reviewed a sample of the client files serviced by the Respondent and identified no further concerns. 18. On March 30, 2016, BMO terminated the Respondent’s registration. 19. There is no evidence that the Respondent received any financial benefit from engaging in the conduct set misconduct beyond the commissions or fees to which the Respondent would have been ordinarily entitled had the transactions in the clients’ accounts been carried out abovein the proper manner. 20. There is no evidence of client loss. 2116. The Respondent has not previously been cooperated fully with Staff during the subject course of MFDA disciplinary proceedings. 22. By entering into this Settlement Agreement, the Respondent has accepted responsibility for his misconduct and has saved the MFDA the time, resourcesinvestigation, and expenses associated with conducting by agreeing to this settlement, has avoided the necessity of a full hearing on the allegationsmerits. 17. The Respondent has expressed remorse for his misconduct.

AGREED FACTS Registration History. 7. Between December 2015 and March 2016From October 1996 to February 2013, the Respondent was registered in Ontario as a mutual fund salesperson (now known as a Dealing Representativedealing representative) with BMO Investments Scotia Securities Inc. (“BMOSSI”), a Member of the MFDA. 8. On March 30Since August 2013, 2016, BMO terminated the Respondent’s registration Respondent has been registered in Ontario as a result dealing representative with a Member of the conduct that is the subject Investment Industry Regulatory Organization of this Settlement Agreement, and the Respondent is no longer registered in the securities industry in any capacityCanada. 9. At all material times, the Respondent conducted business at a bank branch in the TorontoWaterloo, Ontario areaOntario. 10. On February 26At all material times, 2016BD was an Approved Person registered with SSI, who conducted business at the Respondent met with client IV to open a mutual fund account and subsequently submitted same bank branch as the relevant account forms to his branch manager for reviewRespondent. 11. On February 29At all material times, 2016BD and her father, the branch manager reviewed the client BH, held a joint bank account forms, identified that the New Account Application Form (the “NAAFJoint Account”) was missing, and requested that at the Respondent provide him with bank branch. Client BH also held a Registered Retirement Income Fund (“RRIF”) account at another mutual fund dealer (the NAAF“Existing RRIF Account”). 12. In response August 2011, BD requested that the Respondent open a new RRIF account at SSI for client BH and transfer the balance of the Existing RRIF Account to the branch manager’s inquiry, new RRIF account at SSI. The Respondent states that XX told her that she held a power of attorney from client BH and that she looked after his financial affairs. The Respondent did not receive or review any power of attorney or similar authorization that authorized the Respondent created a new NAAF (the “Form”) and signed client IV’s signature to act on the Formrequest of BD on behalf of client BH, and Staff’s investigation did not identify any such power of attorney or similar authorization. 13. Within a few hours of In order to process the branch manager’s requestrequests from BD described above, the Respondent submitted Respondent, together with BD, and without having any discussions with client BH, completed the following account forms (the “Account Forms”) in respect of client BH: (a) an Account Application Form; (b) a Transfer Authorization Form; and (c) an “SIS Overview” Form for review and falsely advised the branch manager that the Respondent had found the missing NAAFcontaining client BH’s Know-Your-Client information. 14. After receiving the Form, the branch manager reviewed it and asked the Respondent whether client IV had signed the Form. The Respondent admitted that he had signed provided the Account Forms to BD to obtain client IVBH’s signature on the Formsignature. 15. On March or about August 3, 20162011, BD provided the Account Forms, which she said had been signed by client BH, to the Respondent. 16. The Respondent subsequently submitted the Account Forms to SSI for processing, and as a result: • a new RRIF account at SSI was opened for client BH (the “New RRIF Account”); and • two mutual fund transfers were processed from the Existing RRIF Account to the New RRIF Account in the total amount of $30,932.16. 17. Based on the request of BD, between November 2011 and March 2012, the Respondent, without having met or communicated with client BH, processed two redemption requests for three redemptions (the “Redemptions”) in client BH’s New RRIF Account, the proceeds of which were to be deposited into the Joint Account belonging to client BH and BD. The Redemptions are summarized in the table below: 1 November 23, 2011 New RRIF Account Joint Account $2,500 2 November 23, 2011 New RRIF Account Joint Account $2,500 3 March 5, 2012 New RRIF Account Joint Account $12,433.39 18. In order to process the first redemption request (Redemptions #1 and #2 described above), the Respondent completed and submitted to SSI for processing an Investment Directions Form, which incorrectly indicated that on November 23, 2011 at 4:15 p.m., she had received telephone instructions from client BH to process the redemptions. 19. In order to process Redemption #3 described above, the Respondent provided BMOan Investment Directions Form to BD to obtain client BH’s compliance department with a written statement in respect of signature. BD then provided the Investment Directions Form, in which he falsely advised BMO that she said had been signed by client IV had signed BH, to the FormRespondent. The Respondent then submitted the Investment Directions Form to SSI for processing. 1620. On March 16In December 2015, 2016, during an interview with BMO, the Respondent admitted SSI became aware of this matter after client BH advised SSI that he had signed not authorized the Redemptions described above, and was unaware of the Joint Account belonging to him and BD. SSI subsequently obtained information indicating that after the proceeds from the Redemptions were deposited to the Joint Account, BD processed withdrawals from the Joint Account without the knowledge of client IVBH.1 21. In about July 2016, SSI reversed the Redemptions in client BH’s signature on the FormNew RRIF Account. 17. As part of its investigation, BMO reviewed a sample of the client files serviced by the Respondent and identified no further concerns. 18. On March 30, 2016, BMO terminated the Respondent’s registration. 1922. There is no evidence that the Respondent received any financial benefit from engaging in the conduct set out abovemisconduct described in this Settlement Agreement. 2023. There is no evidence The Respondent states that she relied on the statements and actions of client lossBD whom she trusted as a fellow employee. 2124. The Respondent has not previously been the subject of MFDA disciplinary proceedings. 2225. Since the events described above, the Respondent has successfully completed a number of securities industry courses including the Canadian Securities Course and the Conduct and Practices Handbook Course, which address the requirements with respect to account opening and client trading instructions. 26. By entering into this Settlement Agreement, the Respondent has accepted responsibility for his misconduct and has saved the MFDA the time, resources, resources and expenses associated with conducting a full hearing on of the allegations. 1 SSI terminated the registration of BD in June 2014.

AGREED FACTS Registration History. 76. Between December 2015 and March 2016, the The Respondent was has been registered in Ontario as a mutual fund salesperson (now known as a Dealing Representativedealing representative) with BMO Investments Sun Life Financial Investment Services (Canada) Inc. (“BMOSun Life”), a Member of the MFDA, in New Brunswick since February 22, 2010 and Ontario since June 10, 2015. 8. On March 30, 2016, BMO terminated the Respondent’s registration as a result of the conduct that is the subject of this Settlement Agreement, and the Respondent is no longer registered in the securities industry in any capacity. 97. At all material times, the Respondent conducted business in the TorontoMoncton, Ontario areaNew Brunswick. 108. On February 26March 3, 20162014, the Respondent met with client IV YJ in order to open process a mutual fund account and subsequently submitted contribution to client YJ’s Registered Retirement Savings Plan (“RRSP”) account. Client YJ provided the Respondent with the relevant account forms as well as a cheque for the investment in the amount of $6,000. At the time, neither the Respondent nor client YJ realized that client YJ had neglected to sign the cheque. The Respondent subsequently submitted the account forms and the cheque to his branch manager Branch Administrator at Sun Life for reviewprocessing. 9. Later on March 3, 2014, the Branch Administrator returned the cheque to the Respondent and advised him that it was missing client XX’s signature. Within approximately 15 minutes of receiving the unsigned cheque from the Branch Administrator, the Respondent falsified client YJ’s signature on the cheque and resubmitted it for processing. 10. The Branch Administrator was suspicious of the signature on the cheque and conveyed her concerns to the Financial Centre Manager who advised the Regional Compliance Officer. The Compliance Department also commenced an investigation. 11. On February 29March 18, 20162014, an onsite visit was completed by the branch manager reviewed the account forms, identified that the New Account Application Form (the “NAAF”) Financial Centre Manager. The Respondent was missing, and requested that the Respondent provide him with the NAAFforthcoming about his conduct. 12. In response to the branch manager’s inquiryaddition, the Respondent created a new NAAF (the “Form”) and signed client IV’s signature on the Form. 13. Within a few hours of the branch manager’s request, the Respondent submitted the Form for review and falsely advised the branch manager that the Respondent had found the missing NAAF. 14. After receiving the Form, the branch manager reviewed it and asked the Respondent whether client IV had signed the Form. The Respondent admitted that he had signed client IV’s signature on the Form. 15. On March 3, 2016, the Respondent provided BMO’s compliance department with in a written statement in respect of to Sun Life dated June 2014 and signed by the Form, in which he falsely advised BMO that Respondent and client IV had signed the Form. 16. On March 16, 2016, during an interview with BMOYJ, the Respondent admitted that he had signed falsified client IVYJ’s signature on the Form. 17. As part of its investigation, BMO reviewed a sample of the client files serviced by the Respondent and identified no further concerns. 18. On March 30, 2016, BMO terminated the Respondent’s registration. 19. There is no evidence that the Respondent received any benefit from the conduct set out above. 20. There is no evidence of client loss. 21cheque. The Respondent has stated that he did this because March 3, 2014 was the RRSP contribution deadline date and he did not previously been the subject of MFDA disciplinary proceedings. 22. By entering into this Settlement Agreement, the Respondent has accepted responsibility for have enough time to meet with client YJ to obtain his misconduct and has saved the MFDA the time, resources, and expenses associated with conducting a full hearing signature on the allegationscheque without missing the deadline. The Respondent also stated that prior to falsifying client YJ’s signature, he had telephoned client YJ and had obtained his permission to sign his name on the cheque so as to give effect to client YJ’s intention.

AGREED FACTS Registration History. 7. The Respondent has been registered in the securities industry since 2001. 8. Between December 2015 January 5, 2011 and March February 16, 2016, the Respondent was registered in Ontario British Columbia as a mutual fund salesperson (now known as a Dealing Representative) dealing representative with BMO Investments Inc. (“BMO”), a Member of the MFDA. 89. On March 30February 16, 2016, BMO terminated the Respondent’s registration as a result of the conduct that is the subject of this Settlement Agreement, and the Respondent was terminated by BMO for events described herein. 10. The Respondent is no longer not currently registered in the securities industry in any capacity. 911. At all material times the Respondent carried on business in the West Vancouver, British Columbia area. 12. At all material times, the Respondent conducted business in the Toronto, Ontario area. 10. On February 26, 2016, the Respondent met with BMO prohibited its Approved Persons from signing client IV to open a mutual fund account and subsequently submitted the relevant account forms to his branch manager for review. 11. On February 29, 2016, the branch manager reviewed the account forms, identified that the New Account Application Form (the “NAAF”) was missing, and requested that the Respondent provide him with the NAAF. 12. In response to the branch manager’s inquiry, the Respondent created a new NAAF (the “Form”) and signed client IV’s signature on the Formsignatures. 13. Within At all material times, client X was a few hours client of BMO whose accounts were serviced by the branch manager’s request, the Respondent submitted the Form for review and falsely advised the branch manager that the Respondent had found the missing NAAFRespondent. 14. After receiving In or about December 2015, client X contacted the Respondent and requested that he process a redemption from (the “Redemption Form”) her account. On December 3, 2015, client X was scheduled to attend the branch in order to sign the Redemption Form, but was unable to attend the branch, and instead called the general line at the Respondent’s branch manager reviewed it and asked to arrange for the Respondent whether client IV had signed the Form. The Respondent admitted that he had signed client IV’s signature on the FormRedemption Form to be faxed to her for signing. 15. On March December 3, 20162015, in response to client X’s request, the Respondent provided BMORespondent’s compliance department with a written statement in respect of assistant branch manager (“ABM”) faxed the Form, in which he falsely advised BMO that Redemption Form to client IV had signed X to sign and return to the Formbranch. 16. On March 16The Respondent was unaware that client X had called the branch and requested the Redemption Form to be sent to her for signing. The Respondent states that when client X did not attend the branch as scheduled, 2016he attempted to contact her, during an interview with BMO, the Respondent admitted that he had signed client IV’s signature on the Formbut was unsuccessful. 17. As part of its investigationOn December 3, BMO reviewed a sample of the client files serviced by 2015, the Respondent signed the signature of client X on the Redemption Form and identified no further concernssubmitted it to BMO for processing. 18. On March 30December 4, 20162015, BMO terminated the Respondent’s registrationABM was conducting daily trade review and she identified the Redemption Form, containing client X’s original signature. The Respondent’s ABM then called client X and left a voice message inquiring about the signed Redemption Form. The ABM then emailed the Respondent to inquire whether client X attended the branch to sign the Redemption Form. 19. There is no evidence On December 4, 2015, client X advised the ABM that she did not attend the Respondent received any benefit from branch to sign the conduct set out aboveRedemption Form. 20. There is no evidence of On December 4, 2015, the Respondent emailed the ABM and falsely advised that client lossX attended the branch and signed the Redemption Form. 21. On December 7, 2015, the following business day, the Respondent approached his branch manager and advised that he had signed clients X’s signature on the Redemption Form. 22. The Respondent has not previously been the subject of MFDA disciplinary proceedingsproceeding. 2223. By entering into this Settlement Agreement, There is no evidence that: a) the Respondent has accepted responsibility for processed any trades without the knowledge or authorization of his client; b) clients suffered any financial harm; c) the Respondent received any financial benefit from engaging in the misconduct and has saved beyond the MFDA commissions or fees to which he would have been ordinarily entitled had the time, resources, and expenses associated with conducting a full hearing on transactions in the allegationsclients’ accounts been carried out in the proper manner; and d) any clients have complained about the Respondent’s conduct.

AGREED FACTS Registration History. 76. Between December 2015 and March 2016Since 1993, the Respondent was has been registered in Ontario as a mutual fund salesperson (now known as a Dealing Representative“dealing representative”) with BMO Investments Queensbury Strategies Inc. (“BMOQueensbury”), a Member of the MFDA. 8. On March 30, 2016, BMO terminated the Respondent’s registration as a result of the conduct that is the subject of this Settlement Agreement, and the Respondent is no longer registered in the securities industry in any capacity. 97. At all material times, the Respondent conducted business in the TorontoBrampton, Ontario area. 8. In or about June 2012, the Respondent submitted to Queensbury for processing a Know Your Client (“KYC”) form for client WC that contained incorrect date of birth information for the client. Xxxxxxxxxx’s staff returned the KYC form to the Respondent, and requested that he resubmit the form containing a corrected date of birth along with the client’s initials acknowledging the correction. 9. The Respondent resubmitted the KYC form for client WC as requested by Xxxxxxxxxx. On July 5, 2012, Xxxxxxxxxx’s staff wrote the Respondent to advise that the corrected KYC form contained initials that did not appear to belong to client WC as compared to another example of the client’s initials contained on the same form. Xxxxxxxxxx staff requested that the Respondent advise whether the initials beside the date of birth were in fact those of client WC. 10. On February 26July 5, 20162012, the Respondent met with wrote Xxxxxxxxxx’s staff and confirmed that the initials contained in the corrected KYC form were those of client IV to open a mutual fund account and subsequently submitted the relevant account forms to his branch manager for reviewWC. 11. On February 29, 2016In or about November 2012, the branch manager reviewed Respondent submitted to Queensbury for processing a KYC form for client DN. Xxxxxxxxxx’s staff returned the account forms, identified KYC form to the Respondent because the client had signed the form without including a date beside the client’s signature. Xxxxxxxxxx’s staff requested that the New Account Application Form (Respondent resubmit the KYC form containing a signature date along with the client’s initials acknowledging the correction. 12. In or about November 2012, the Respondent submitted to Queensbury for processing a KYC form for client JB. Xxxxxxxxxx’s staff returned the form to the Respondent because the client’s portfolio objective had been changed on the form from “NAAFBalanced” to “Growth”) was missing, without having been initialed by the client. Xxxxxxxxxx’s staff requested that the Respondent resubmit the form with the change to the portfolio objective initialed by client JB to acknowledge the correction. 13. On November 15, 2012, Xxxxxxxxxx’s staff advised the Respondent that the initials on the resubmitted KYC forms pertaining to both clients DN and XX described above did not appear to be those of the clients as compared to other examples of the clients’ initials. Xxxxxxxxxx’s staff also reiterated their prior concern with respect to the initial of client WC, and requested that the Respondent provide him with the NAAF. 12. In comments in response to their concerns about the branch manager’s inquiry, the Respondent created a new NAAF (the “Form”) and signed client IV’s signature on the Form. 13. Within a few hours of the branch manager’s request, the Respondent submitted the Form for review and falsely advised the branch manager that the Respondent had found the missing NAAFclients’ initials. 14. After receiving the FormOn November 16, 2012, the branch manager reviewed it Respondent admitted to Queensbury that he initialed the forms on behalf of clients WC, DN, and asked JB on the Respondent whether client IV had signed the FormKYC forms described above. The Respondent admitted advised Xxxxxxxxxx that he had signed client IV’s signature placed the initials on the Formforms to avoid inconveniencing the clients. 15. On March 3November 16, 20162012, Xxxxxxxxxx issued a warning letter to the Respondent provided BMO’s compliance department with a written statement for his conduct in respect falsifying the initials of the Formclients WC, in which he falsely advised BMO that client IV had signed the FormDN and JB. 16. On March 16November 21, 20162012, during the Respondent wrote Queensbury and confirmed that he had not falsified any other client initials and would not falsify client initials in the future. 17. On or about December 19, 2012, Xxxxxxxxxx commenced a review of the files of all clients serviced by the Respondent, and it identified a further 12 KYC forms containing falsified client initials. 18. During an interview with BMOMFDA Staff on June 19, 2013, the Respondent admitted that, in addition to the instances of falsifying the initials of clients WC, DN, and XX described above, he placed falsified initials of clients alongside certain changes that he made to information on KYC and New Account Application forms for the following 10 clients: 1 DJ December 7, 2009 Risk tolerance changed to high risk from moderate risk 2 DF December 7, 2009 Risk tolerance changed to high risk from moderate risk 3 LM February 11, 2010 Risk tolerance changed to high risk from moderate risk 4 SW February 26, 2010 The Respondent placed clients initials acknowledging disclosure of Member forms 5 DN1 September 27, 2010 Risk tolerance changed to high risk from moderate/high risk 7 LCPC December 7, 2011 The Respondent placed client initials on Personal Information Consent section 8 MLS March 6, 2012 Changes to employment information and income and net worth information 10 BO July 19, 2012 Risk tolerance changed to high risk from moderate/high 19. On or about December 19, 2012, Xxxxxxxxxx imposed additional supervisory measures on the Respondent due to the additional forms it identified during its review of the client files, and due to the Respondent’s misstatement to Queensbury on November 21, 2012 that he had signed not falsified any additional client IV’s signature initials. Xxxxxxxxxx has placed the Respondent on strict supervision, and, as of August 5, 2014, the Respondent has paid to Queensbury the amount of approximately $14,700 in respect of the strict supervision. 20. The Respondent advised MFDA Staff that: (a) he did not speak with clients DN and JB about the changes to their forms prior to placing the clients’ initials beside the changes to their forms; (b) he did speak with clients SW and MLS about the changes to their forms prior to placing the clients’ initials beside the changes to their forms; (c) he cannot recall whether he had spoken with the remaining eight clients about the changes prior to placing the clients’ initials beside the changes to their forms; 1 This is another example of the Respondent falsifying the initials of client DN who is also referred to in paragraph 11 above. (d) he cannot locate in his files any notes pertaining to any discussions he may have had with the clients about the changes made to the forms; and (e) on November 21, 2012, when he advised Xxxxxxxxxx that he had not falsified any other client initials: i. he believed that he had not falsified any other client initials on the Formforms; and ii. he did not review his files to ensure he was making an accurate statement to Queensbury. 1721. As part of its investigation, BMO reviewed a sample of Xxxxxxxxxx sent letters to the client files serviced by clients on whose forms the Respondent and identified no further concerns. 18. On March 30had falsified their initials, 2016, BMO terminated in order to advise them of the Respondent’s registrationactivities and to obtain updated KYC information. No clients expressed concerns about the Respondent in response to Xxxxxxxxxx’s letters. 1922. There is no evidence that the Respondent received any financial benefit from engaging in the conduct set misconduct described above beyond the commissions or fees to which he would have been ordinarily entitled had the transactions in the clients’ accounts been carried out abovein the proper manner. 20. There is no evidence of client loss. 2123. The Respondent has not previously been the subject of MFDA disciplinary proceedings. 22. By entering into this Settlement Agreement, the Respondent has accepted responsibility for his misconduct and has saved the MFDA the time, resources, and expenses associated with conducting a full hearing on the allegations.