Mackenzie Investments

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
CRD
Number:
110338
This advisory affiliate is 
a Firm
an Individual
Registered:
Yes
No
Name:
MACKENZIE INVESTMENTS
(For individuals, Last, First,
Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
ONTARIO SECURITEIS COMMISSION
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions: 
UNDERTAKING
3.
Date Initiated (MM/DD/YYYY): 
04/04/2018
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
2018-15
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Other
Other Product Types: 
CANADIAN MUTUAL FUNDS
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE ONTARIO SECURITIES COMMISSION ALLEGED THAT MACKENZIE FINANCIAL CORPORATION FAILED TO (I) COMPLY WITH NATIONAL INSTRUMENT
81-105 MUTUAL FUND SALES PRACTICES ("NI 81-105") BY NOT MEETING THE MINIMUM STANDARDS OF CONDUCT EXPECTED OF INDUSTRY
PARTICIPANTS IN RELATION TO CERTAIN SALES PRACTICES BETWEEN MAY 2014 AND DECEMBER 2017; (II) HAVE SYSTEMS OF CONTROLS AND
SUPERVISION OVER ITS SALES PRACTICES THAT WERE SUFFICIENT TO PROVIDE REASONABLE ASSURANCES THAT IT WAS COMPLYING WITH ITS
OBLIGATIONS UNDER NI 81-105 AND (III) MAINTAIN ADEQUATE BOOKS, RECORDS AND OTHER DOCUMENTS TO DEMONSTRATE ITS COMPLIANCE WITH
81-105.

8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Order
11. Resolution Date (MM/DD/YYYY):
04/06/2018
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 900,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
IN ADDITION TO THE $900,000 (CANADIAN DOLLARS) PENALTY, MACKENZIE FINANCIAL CORPORATION WASREPRIMANDED, REQUIRED TO PAY
$150,000 (CANADIAN DOLLARS) FOR THE COST OF THE INVESTIGATION, AND ORDERED TO ENGAGE AN INDEPENDENT CONSULTANT TO REVIEW
POLICIES AND PROCEDURES.
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
THE TOTAL AMOUNT LEVIED AGAINST MACKENZIE FINANCIAL CORPORATION WAS $1,050,000 (CANADIAN DOLLARS). ALL AMOUNTS WERE PAID
ON APRIL 4, 2018, AS REQUIRED BY THE ORDER AND SETTLEMENT AGREEMENT.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
THE ONTARIO SECURITIES COMMISSION ("OSC") INVESTIGATED MACKENZIE FINANCIAL CORPORATION FOR SALES PRACTICES RELATED TO MUTUAL
FUND PRODUCTS. THE OSC CONCLUDED THAT MFC FAILED TO COMPLY WITH NATIONAL INSTRUMENT 81-105 ("NI 81-105"). THE OSC AND MACKENZIE
ENTERED INTO A SETTLEMENT AGREEMENT ON APRIL 6, 2018. THE SETTLEMENT AGREEMENT STATES THAT MACKENZIE FAILED TO COMPLY WITH NI 81-
105. THE PURPOSE OF NI 81-105 IS TO DISCOURAGE SALES PRACTICES THAT COULD BE PERCEIVED AS INDUCING DEALERS AND THEIR
REPRESENTATIVES TO SELL MUTUAL FUND SECURITIES ON THE BASIS OF INCENTIVES THEY WERE RECEIVING (SUCH AS PROMOTIONAL ITEMS OR
ACTIVITIES) RATHER THAN ON THE BASIS OF WHAT IS SUITABLE FOR AND IN THE BEST INTEREST OF THEIR CLIENTS. MACKENZIE AGREED TO: (I) PAY
AN ADMINISTRATIVE PENALTY OF $900,000 (CANADIAN DOLLARS); (II) SUBMIT TO REGULAR REVIEWS OF ITS SALES PRACTICES, PROCEDURES AND
CONTROLS BY AN INDEPENDENT CONSULTANT; (III) AND PAY COSTS OF THE INVESTIGATION IN THE AMOUNT OF $150,000 (CANADIAN DOLLARS). ALL
AMOUNTS HAVE BEEN PAID PURSUANT TO THE SETTLEMENT AGREEMENT.