MFDA Hearing Panel approves Settlement Agreement with Desjardins Financial Security Investments Inc.



    TORONTO, May 6 /CNW/ - A Settlement Hearing in the matter of Desjardins
Financial Security Investments Inc. ("Desjardins") 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 Desjardins
and MFDA Staff, as a consequence of which Desjardins:

    
    - Paid a fine in the amount of $75,000; and
    - Paid costs in the amount of $15,000.
    

    The Hearing Panel advised that it would issue written reasons for its
decision in due course.
    A copy of the Settlement Agreement and the Hearing Panel's Order is
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 150 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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