MFDA Hearing Panel approves Settlement Agreement with De Thomas Financial Corp.



    TORONTO, Sept. 3 /CNW/ - A Settlement Hearing in the matter of De Thomas
Financial Corp. (the "Respondent") was held today before a Hearing Panel of
the Central Regional Council of the Mutual Fund Dealers Association of Canada
(the "MFDA").
    The Hearing Panel approved the Settlement Agreement between the
Respondent and MFDA Staff, as a consequence of which the Respondent:

    
    -   Has paid a fine in the amount of $10,000;
    -   Has paid the costs of the proceeding in the amount of $2,500;
    -   Shall retain an independent monitor at its expense and in accordance
        with the terms set out in Schedule "B" to the Settlement Agreement to
        resolve all existing deficiencies and any deficiencies that the
        independent monitor identifies during its review; and
    -   Shall in the future comply with all MFDA By-laws, Rules and Policies,
        and all applicable securities legislation and regulations made
        thereunder, including MFDA Rules 2.2.1, 2.2.2 and 2.5 and MFDA Policy
        No. 2.
    

    The Hearing Panel will issue written reasons for its decision in due
course. Copies of the Settlement Agreement and the Hearing Panel's Order are
available on the MFDA website at www.mfda.ca.

    The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business conduct
of its 145 Members and their approximately 75,000 Approved Persons with a
mandate to protect investors and the public interest.





For further information:

For further information: Shaun Devlin, Vice-President, Enforcement,
(416) 943-4672 or sdevlin@mfda.ca


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