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 MFDA: a) between May 2014 and March 2015, the Respondent obtained, possessed, and used to process trades, 5 pre-signed account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and c) on November 4, 2014, the Respondent misled the Member on its annual registration questionnaire when she indicated to the Member that she did not control or possess any pre-signed account forms, 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 $11,500, pursuant to section 24.1.1(b) of By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500, 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 the Settlement Hearing in person. 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 MFDA: a) between May 2014 and March 2015on or about September 25, 2014, the Respondent obtained, possessed, and used failed to process trades, 5 pre-signed account forms in respect of 5 3 transactions requested by two clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and cb) on November 4or about May 27, 2014, the Respondent misled the Member on its annual registration questionnaire when she indicated to the Member that she did not control or possess any pre-signed opened a client account formsand processed a transaction, without obtaining client authorization, contrary to MFDA Rule Rules 1.1.2, 2.5.1 and 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 $11,500, 13,000 pursuant to section 24.1.1(b) of By-law No. 1No.1 (the “Fine”); (b) the Respondent shall pay a costs in the amount of $2,500, 2,500 pursuant to section 24.2 of MFDA By-law No. 1No.1 (the “Costs); (c) the Fine and Costs shall be paid in seven installments: the first installment in the amount of $2,500 shall be paid on the date of the settlement hearing, the remaining six installments in the amount of $2,166.67 each are payable on or before the final business day of the six months that follow the date of the acceptance of the settlement agreement by the Hearing Panel; (d) the Respondent shall in the future comply with MFDA Rule Rules 1.1.2, 2.5.1 and 2.1.1; and d(e) the Respondent will attend in person, on the date set for the Settlement Hearing in personHearing. 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 MFDA: (a) between May 2014 and March 2015the Respondent’s assistant, for whom the Respondent obtainedwas responsible, possessed, altered and used to process tradestransactions, 5 pre-signed 3 account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterations1 client, contrary to MFDA Rule 2.1.1; and c(b) on November 4the Respondent, 2014or his assistant for whom he was responsible, the Respondent misled the Member on its annual registration questionnaire when she indicated obtained, possessed, and in some instances, used to the Member that she did not control or possess any process transactions, 11 pre-signed account formsforms in respect of 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 Respondent shall pay a fine in the amount of $11,500, 2,500 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, 2,500 pursuant to section 24.2 s. 24.1 of MFDA By-law No. 1; c) the Respondent shall be prohibited from conducting securities related business while in the employ of or associated with any Member of the MFDA for a period of 2 months pursuant to s. 24.1.1(e); d) the Respondent shall in the future comply with MFDA Rule 2.1.1; and de) the Respondent will attend by teleconference on the date set for the Settlement Hearing in personHearing. 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 MFDA: a) between May 2014 August 2004 and March 2015, the Respondent obtainedRespondent, possessedor his assistants, for whom he was responsible, altered, and in some instances, used to process tradestransactions, 5 pre-signed 145 account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering information on the account forms without having the clients initial obtaining client initials authorizing the alterations, contrary to MFDA Rule 2.1.1; and cb) on November 4, 2014between August 2004 and March 2015, the Respondent misled the Member on its annual registration questionnaire when she indicated Respondent, or his assistants, for whom he was responsible, obtained, possessed, and in some instances, used to the Member that she did not control or possess any process transactions, 246 pre-signed account forms, 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 $11,500, 15,000 pursuant to section s. 24.1.1(b) of MFDA By-law No. 1; b) the Respondent shall pay costs be prohibited from conducting securities related business in any capacity while in the amount employ or associated with any MFDA Member for a period of $2,500one year, commencing from the date of the Hearing Panel’s order, pursuant to section 24.2 s. 24.1.1(e) of MFDA By-law No. 1; c) the Respondent shall pay costs in the amount of $2,500 pursuant to s. 24.2 of MFDA By-law No. 1; d) the Respondent shall in the future comply with MFDA Rule 2.1.1; and de) the Respondent will attend in person, on the date set for the Settlement Hearing in personHearing. 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 MFDA:. a) between May 2014 August 2007 and March 2015February 2013, the Respondent obtained, possessed, obtained and used to process tradestransactions, 5 4 pre-signed account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterations1 client, contrary to MFDA Rule 2.1.1; and cb) on November 4, 2014between September 2007 and October 2013, the Respondent misled Respondent, acting in the Member on its annual registration questionnaire when she indicated to capacity of branch manager, reviewed and approved the Member that she did not control or possess any use of 28 pre-signed account formsforms in respect of 9 clients, contrary to MFDA Rules 2.1.1 and 2.5.5(d) (from September 2013 to present, MFDA Rule 2.1.12.5.5(f)). 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 $11,500, 10,000 pursuant to section s. 24.1.1(b) of MFDA By-law No. 11 (the “Fine”); b) the Respondent shall pay costs in the amount of $2,500, 2,500 pursuant to section s. 24.2 of MFDA By-law No. 11 (“Costs”); c) the Fine and Costs together shall be payable in 12 equal installments, the first of which is due on the date of the Settlement Hearing, with the remaining 11 installments due on the last business day of the 11 months following the date of the Settlement Hearing; d) the Respondent shall in the future comply with MFDA Rule 2.1.1Rules 2.1.1 and 2.5.5(f); and de) the Respondent will attend in person, on the date set for the Settlement Hearing in personHearing. 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 MFDA: a) between May 2014 October 4, 2013 and March October 8, 2013, the Respondent provided a short term loan of $440,000 to a client, thereby giving rise to a conflict or potential conflict of interest between the Respondent and the client, which the Respondent failed to address by the exercise of reasonable business judgment, influenced only by the best interests of the client, contrary to MFDA Rule 2.1.4; b) between November 2012 and November 2015, the Respondent obtained, possessed, and in some instances, used to process tradestransactions, 5 31 pre-signed account forms in respect of 5 18 clients, contrary to MFDA Rule 2.1.1;; and bc) between May November 2014 and March April 2015, the Respondent falsified, and used to process trades, altered 4 account forms in respect of 2 clients, clients by altering the date on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and c) on November 4, 2014, the Respondent misled the Member on its annual registration questionnaire when she indicated to the Member that she did not control or possess any pre-signed account forms, 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 $11,500, 20,000 pursuant to section 24.1.1(bs. 24.1.1.(b) of MFDA By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500, 2,500 pursuant to section s. 24.2 of MFDA By-law No. 1; c) the Respondent shall in the future comply with MFDA Rule 2.1.1Rules 2.1.1 and 2.1.4; and d) the Respondent will attend in person, on the date set for the Settlement Hearing in personHearing. 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 MFDA: a) between May 2014 Between September 2011 and March October 2015, the Respondent altered 26 account forms in respect of 16 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.; and b) Between June 2011 and September 2016, the Respondent obtained, possessed, and used to process tradesin one instance used, 5 6 pre-signed account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and c) on November 4, 2014, the Respondent misled the Member on its annual registration questionnaire when she indicated to the Member that she did not control or possess any pre-signed account forms, 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 $11,50010,500, 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, pursuant to section 24.2 of By-law No. 1; c) Payment by the Respondent of the fine and costs described above in paragraphs 5(a) and (b) shall be made to and received by MFDA Staff in certified funds as follows: i. $6,500 (costs and fine) upon acceptance of the Settlement Agreement by the Hearing Panel; ii. $6,500 (fine) on or before last business day of the first month following the acceptance of the Settlement Agreement by the Hearing Panel; d) The Respondent shall in the future comply with MFDA Rule Rules 2.1.1; and de) the The Respondent will attend the Settlement Hearing in personperson or via teleconference. 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 MFDA: a) between May 2014 and on March 201522, 2016, the Respondent obtained, possessed, and used to process trades, 5 pre-signed a client’s signature on 2 account forms in respect of 5 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterationsforms, contrary to MFDA Rule 2.1.1; and cb) on November 4April 21, 20142016, the Respondent misled the Member in its investigation into his conduct when he falsely denied that he signed a client’s signature on its annual registration questionnaire when she indicated to the Member that she did not control or possess any pre-signed 2 account forms, 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 be prohibited from conducting securities related business in any capacity while in the amount employ of $11,500or associated with a Member of the MFDA for a period of 6 months, pursuant to section 24.1.1(bs. 24.1.1(e) of MFDA By-law No. 1; b) the Respondent shall pay costs in the amount of $2,500, 2,500 pursuant to section s. 24.2 of MFDA By-law No. 1; c) the Respondent shall be prohibited from acting as a branch manager for a period of 12 months, pursuant to s. 24.1.1(e) of MFDA By-law No. 1; d) the Respondent shall in the future comply with MFDA Rule 2.1.1; and de) the Respondent will attend by teleconference on the date set for the Settlement Hearing in personHearing. 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 MFDA: a) : between May 2014 December 2010 and March 2015October 2013, the Respondent obtained, possessed, obtained and used to process tradestransactions, 5 13 pre-signed account Redemption Request forms in respect of 5 2 clients, contrary to MFDA Rule 2.1.1; b) between May 2014 and March 2015, the Respondent falsified, and used to process trades, 4 account forms in respect of 2 clients, by altering the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and c) on November 4, 2014, the Respondent misled the Member on its annual registration questionnaire when she indicated to the Member that she did not control or possess any pre-signed account forms, 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 $11,500, 5,000 pursuant to section s. 24.1.1(b) of MFDA By-law No. 11 (the “Fine”); b) the Respondent shall pay costs in the amount of $2,500, 2,500 pursuant to section s. 24.2 of MFDA By-law No. 11 (the “Costs”); c) the Fine and Costs together shall be payable in 12 equal installments, the first of which is due on the date of the Settlement Hearing, the remaining 11 installments due on the last business day of the 11 months following the date of the Settlement Hearing; d) the Respondent shall in the future comply with MFDA Rule 2.1.1; and de) the Respondent will attend in person, on the date set for the Settlement Hearing in personHearing. 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”.