MFDA Hearing Panel approves Settlement Agreement with The Investment House of
Canada Inc., Sanjiv Sawh and Vlad Trkulja

TORONTO, April 12 /CNW/ - A Settlement Hearing in the matter of The Investment House of Canada Inc., Sanjiv Sawh and Vlad Trkulja (the "Respondents") was held on Friday April 9, 2010 in Toronto, Ontario 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 Staff of the MFDA and the Respondents, as a consequence of which:

    
    -   The Investment House's membership in the MFDA shall be subject to the
        following terms and conditions commencing on the seventh (7th) day
        after the date of the acceptance of the Settlement Agreement:

        -  The Investment House is prohibited from accepting any new clients;
        -  The Investment House is prohibited from selling any securities
           pursuant to any exemptions under applicable securities
           legislation; and
        -  The Investment House is prohibited from recommending or
           facilitating any leveraged investing strategies.

    -   The rights and privileges of membership of The Investment House in
        the MFDA shall be suspended on the thirtieth (30th) day after the
        date of acceptance of the Settlement Agreement. The Investment House
        shall immediately tender its resignation and shall remain suspended
        until such time as its resignation is approved by the MFDA or its
        rights and privileges of membership are otherwise terminated by the
        MFDA or a Hearing Panel;

    -   The Respondents, Sawh and Trkulja agree with the MFDA to provide
        their full cooperation in the orderly resignation of The Investment
        House;

    -   The Respondent, Sawh shall pay a fine in the amount of $10,000;

    -   The Respondent, Trkulja shall pay a fine in the amount of $10,000;

    -   The Respondent, Sawh is prohibited for a period of three (3) years
        from acting in the capacity of a branch manager, compliance officer
        or UDP;

    -   The Respondent, Trkulja is prohibited for a period of three (3) years
        from acting in the capacity of a branch manager, compliance officer
        or UDP;

    -   In the event the Respondents, Sawh or Trkulja seek to become
        registered as a partner, director or officer of a Member of the MFDA,
        then Sawh or Trkulja, or both as the case may be, shall successfully
        complete the Partners Directors and Senior Officers course (or other
        course acceptable to the MFDA) prior to becoming so registered;

    -   The Respondents, Sawh and Trkulja shall successfully complete a
        proficiency requirement pertaining to mutual fund salespersons (or
        other course acceptable to the MFDA);

    -   The Respondents shall together pay costs in the amount of $10,000,
        attributable to conducting the investigation and settlement of this
        matter;

    -   The Respondents, Sawh and Trkulja shall in the future comply with all
        MFDA By-laws, Rules and Policies, and all applicable securities
        legislation and regulations made thereunder.
    

The Hearing Panel advised that it would issue written reasons for its decision in due course.

A copy of the Settlement Agreement 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 141 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

SOURCE Mutual Fund Dealers Association of Canada

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


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