MFDA Hearing Panel approves Settlement Agreement with Michael Prueter

TORONTO, Aug. 24, 2015 /CNW/ - A settlement hearing in the matter of Michael Gordon Prueter (the "Respondent") was held on August 10, 2015 in Vancouver, British Columbia before a three-person Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA"). The Hearing Panel approved the settlement agreement ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:


has paid a fine in the amount of $10,000;


has paid costs in the amount of $2,500;


shall be prohibited from conducting securities related business while in the employ of or associated with any MFDA Member for a period of two (2) years; and


shall in the future comply with MFDA Rules 1.2.1(c) and 2.1.1.

In the Settlement Agreement, the Respondent admitted that between September 2003 and February 2013, he had and continued in at least three (3) other gainful occupations which were not disclosed to and approved by the Member, including:


acting as the sole director, Secretary and operator of a financing corporation;


acting as the sole director, President, Secretary, Treasurer, and controlling shareholder of a corporation to develop a hotel in Quebec; and


acting as a director and operator of a corporation to develop an aquaculture plant in British Columbia;

contrary to MFDA Rules 1.2.1(c) (formerly MFDA Rule 1.2.1(d)), 2.4.2 and 2.1.1.

A copy of the Settlement Agreement is available on the MFDA website at During the period described in the Settlement Agreement, the Respondent carried on business in the areas of Burnaby and Maple Ridge, British Columbia.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.

SOURCE Mutual Fund Dealers Association of Canada

For further information: Charles Toth, Director, Litigation, 416-943-4619,; Jeff Mount, Vice-President, Pacific Region, 604-694-8846,


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