AGREED FACTS Registration History 7. Since 2002, the Respondent has been registered in Ontario as a mutual fund salesperson (now known as a Dealing Representative) with Sun Life Financial Services (Canada) Inc. (“Sun Life”)1, a Member of the MFDA.
8. Between September 2009 and May 2015, Sun Life designated the Respondent as a branch manager.
9. At all material times, the Respondent conducted business in the Ottawa, Ontario area.
10. At all material times, Sun Life’s policies and procedures permitted clients to sign a Limited Trade Authorization (“LTA”), a document that authorizes Approved Persons to accept verbal instructions from a client in certain circumstances.
11. At all material times, Sun Life’s policies and procedures prohibited its Approved Persons, including the Respondent, from engaging in discretionary trading.
12. On February 6, 2014, client JR opened a mutual fund account at the Member (the “Mutual Fund Account”) and completed a KYC form, on which form client JR indicated that the time horizon for her investment in the Mutual Fund Account was less than five years, and that her risk tolerance was low to medium. Xxxxxx XX also signed a LTA at this time.
13. At the time Client JR opened the Mutual Fund Account, the Respondent explained to her the difference between deferred sales charges and front end load charges. Client JR informed the Respondent that she intended to use the monies invested in the Mutual Fund Account to pay taxes on a property within a period of less than five years.
14. In March 2014, in accordance with client JR’s instructions, the Respondent processed a purchase in a money market fund in the Mutual Fund Account, subject to a front end load charge.
15. On April 24, 2014, the Respondent states that client JR verbally instructed the Respondent to process a switch in the Mutual Fund Account to transfer the monies to another fund with a risk rating of low to medium called the Signature Diversified Yield Fund (the “Switch”).
16. Prior to accepting the order for the Switch, the Respondent states that client JR advised her that client JR did not need the invested monies immediately. The Respondent failed to ask any further questions to determine client JR’s time horizon for the invested monies.
17. Without obtaining instructions from client XX, the Respondent used her discretion to select a version of the Signature Diversified Yield Fund that was subject to a 7 year deferred sales charge (“DSC”), and processed the Switch.
18. At the time of the Switch, the Respondent failed to inform client XX that she would incur DSC fees if she redeemed monies from the investment within seven years.
19. On April 25, 2015, client JR redeemed her investment at a $10,822.89 gain, but incurred $6,052.29 in DSC fees.
20. In or around April 2015, client JR complained to Sun Life’s compliance department about the DSC fees arising from the Switch.
21. Sun Life completed a review of the client complaint and refunded client JR the DSC fees incurred from the Switch.
22. The Respondent also refunded to Sun Life the $3,631.37 commission that she received from the Switch.
23. The Respondent has not previously been the subject of MFDA disciplinary proceedings.
24. By entering into this Settlement Agreement, the Respondent has saved the MFDA the time, resources, and expenses associated with conducting a full hearing on the allegations.
Registration Data Directory Services Until ICANN requires a different protocol, Registry Operator will operate a WHOIS service available via port 43 in accordance with XXX 0000, and a web-‐based Directory Service at <whois.nic.TLD> providing free public query-‐based access to at least the following elements in the following format. ICANN reserves the right to specify alternative formats and protocols, and upon such specification, the Registry Operator will implement such alternative specification as soon as reasonably practicable. Registry Operator shall implement a new standard supporting access to domain name registration data (SAC 051) no later than one hundred thirty-‐five (135) days after it is requested by ICANN if: 1) the IETF produces a standard (i.e., it is published, at least, as a Proposed Standard RFC as specified in RFC 2026); and 2) its implementation is commercially reasonable in the context of the overall operation of the registry.
1.1. The format of responses shall follow a semi-‐free text format outline below, followed by a blank line and a legal disclaimer specifying the rights of Registry Operator, and of the user querying the database.
1.2. Each data object shall be represented as a set of key/value pairs, with lines beginning with keys, followed by a colon and a space as delimiters, followed by the value.
1.3. For fields where more than one value exists, multiple key/value pairs with the same key shall be allowed (for example to list multiple name servers). The first key/value pair after a blank line should be considered the start of a new record, and should be considered as identifying that record, and is used to group data, such as hostnames and IP addresses, or a domain name and registrant information, together.
1.4. The fields specified below set forth the minimum output requirements. Registry Operator may output data fields in addition to those specified below, subject to approval by ICANN, which approval shall not be unreasonably withheld.
COMPETENT SUPERVISORY AUTHORITY Identify the competent supervisory authority/ies in accordance with Clause 13
Contract for Professional Services of Physicians Optometrists, and Registered Nurses
Cooperation with supervisory authorities 1. The data exporter agrees to deposit a copy of this contract with the supervisory authority if it so requests or if such deposit is required under the applicable data protection law.
2. The parties agree that the supervisory authority has the right to conduct an audit of the data importer, and of any subprocessor, which has the same scope and is subject to the same conditions as would apply to an audit of the data exporter under the applicable data protection law.
3. The data importer shall promptly inform the data exporter about the existence of legislation applicable to it or any subprocessor preventing the conduct of an audit of the data importer, or any subprocessor, pursuant to paragraph 2. In such a case the data exporter shall be entitled to take the measures foreseen in Clause 5 (b).
PROFESSIONAL DEVELOPMENT AND EDUCATIONAL IMPROVEMENT A. Tuition costs incurred by administrator shall be reimbursed by the Board of Education under the following terms and conditions:
1. Tuition costs eligible for reimbursement must be for courses in the field of education. In addition, courses not in the field of education but closely related may be approved for reimbursement at the sole discretion of the Superintendent or his/her designee in advance of enrollment. Reimbursement will not be made until satisfactory evidence of having received a passing grade is presented.
2. Reimbursement for actual tuition costs incurred by a member shall be limited to a maximum reimbursement of the average tuition cost for twelve (12) graduate/Doctoral level credits at the following four (4) state universities: Rutgers, Rowan, College of New Jersey, and Montclair computed annually. Masters’ degree maximum will be limited to the average Masters’ level cost and Doctorate degree maximum will be limited to the average Doctoral level cost.
3. The date on which a course is completed will determine the contract year in which the credits will be applicable for reimbursement.
4. Non-tenured members shall be eligible for reimbursement at the level set forth in Subsection 2 above, for tuition costs incurred for graduate credits earned during a period after the award of a first-year contract, but prior to the commencement of work under a tenured contract; provided however, such reimbursement shall not be payable to such member unless and until said member has commenced work under a tenure contract.
5. Upon satisfactory compliance by the member with all of the terms and conditions set forth in the preceding subsections, such member shall be paid his/her reimbursement entitlement on either October 2 for the prior Spring and Summer course work taken, or April 1 for the prior Fall course work provided that the member is still in the employ of the Board on such date. Such payment shall be further conditioned on said member remaining in the employ of the Board for the remainder of the current school year. In the event that such member shall leave the employ of the Board prior to the expiration of the school year in which such reimbursement entitlement has been paid, such member shall be obligated to refund to the Board the entire reimbursement paid to him/her during such school year, and for such purpose, the Board shall be empowered to deduct said sum from such member’s salary payments.
6. No member shall be eligible for tuition reimbursement in connection with tuition costs incurred that are paid by the Veteran’s Administration or any other outside agency.
7. Upon earning tenure in the district as an administrator, the Board of Education shall reimburse the administrator costs associated with their participation in the New Jersey State Mentoring and Assessment Program. Participation in the Mentoring and Assessment Program must have occurred entirely during the time of employment in the Washington Township Public School District.
Professional Services Warranty 5.1 Oracle warrants that Professional Services will be provided in a professional manner consistent with industry standards. Customer must notify Oracle of any warranty deficiencies within 60 days from performance of the deficient Professional Services.
5.2 ORACLE DOES NOT WARRANT THAT THE PROFESSIONAL SERVICES WILL BE PERFORMED ERROR- FREE OR UNINTERRUPTED, THAT ORACLE WILL CORRECT ALL PROFESSIONAL SERVICES ERRORS, OR THAT THE PROFESSIONAL SERVICES WILL MEET CUSTOMER’S REQUIREMENTS OR EXPECTATIONS. ORACLE IS NOT RESPONSIBLE FOR ANY ISSUES RELATED TO THE PERFORMANCE, OPERATION OR SECURITY OF THE PROFESSIONAL SERVICES THAT ARISE FROM CUSTOMER DATA OR THIRD PARTY APPLICATIONS OR PROFESSIONAL SERVICES PROVIDED BY THIRD PARTIES.
5.3 FOR ANY BREACH OF THE PROFESSIONAL SERVICES WARRANTY, CUSTOMER’S EXCLUSIVE REMEDY AND ORACLE’S ENTIRE LIABILITY SHALL BE THE CORRECTION OF THE DEFICIENT PROFESSIONAL SERVICES THAT CAUSED THE BREACH OF WARRANTY, OR, IF ORACLE CANNOT SUBSTANTIONALLY CORRECT THE DEFICIENCY IN A COMMERCIALLY REASONABLE MANNER, CUSTOMER MAY END THE DEFICIENT PROFESSIONAL SERVICES AND ORACLE WILL REFUND TO THE CUSTOMER THE FEES FOR THE TERMINATED PROFESSIONAL SERVICES THAT CUSTOMER PRE-PAID TO ORACLE FOR THE PERIOD FOLLOWING THE EFFECTIVE DATE OF TERMINATION.
5.4 TO THE EXTENT NOT PROHIBITED BY LAW, THIS WARRANTY IS EXCLUSIVE AND THERE ARE NO OTHER EXPRESS OR IMPLIED WARRANTIES OR CONDITIONS, INCLUDING FOR SOFTWARE, HARDWARE, SYSTEMS, NETWORKS OR ENVIRONMENTS OR FOR MERCHANTABILITY, SATISFACTORY QUALITY AND FITNESS FOR A PARTICULAR PURPOSE.
