MFDA Hearing Panel Approves Settlement Agreement with Mary Elizabeth Rygiel



    TORONTO, June 25 /CNW/ - A Settlement Hearing in the Matter of Mary
Elizabeth Rygiel was held today before a Hearing Panel of the Central Regional
Council of the Mutual Fund Dealers Association of Canada ("MFDA"). The Hearing
Panel approved the Settlement Agreement between the MFDA and Mary Rygiel. The
following is a summary of the Orders made by the Hearing Panel:

    
    (a)    The Respondent is prohibited from acting in a compliance or
           supervisory capacity with a Member for a period of three (3) years
           from the date of this Order, pursuant to section 24.1.1(c) of MFDA
           By-law No. 1;
    (b)    The Respondent shall write the appropriate proficiency examination
           prior to becoming registered in any compliance or supervisory
           capacity with a Member, pursuant to section 24.1.1(c) of MFDA
           By-law No. 1;
    (c)    The Respondent shall pay a fine in the amount of $5,000, pursuant
           to section 24.1.1(b) of MFDA By-law No. 1;
    (d)    The Respondent shall pay costs in the amount of $1,000
           attributable to the investigation and settlement of this matter,
           pursuant to section 24.2 of MFDA By-Law No. 1.
    

    The Hearing Panel advised that it would issue written reasons in due
course.
    A copy of the Order and Settlement Agreement are available on the MFDA
website at www.mfda.ca.

    The Mutual Fund Dealers Association of Canada is the self-regulatory
organization for Canadian mutual fund dealers. The MFDA regulates the
operations, standards of practice and business conduct of its 162 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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