MFDA Hearing Panel makes Orders against International Capital Management Inc., John Paul Sanchez and Javier Andreas Sanchez

TORONTO, Dec. 19, 2016 /CNW/ - The MFDA today announced that on December 16, 2016, a three-person Hearing Panel of the MFDA's Central Regional Council made Orders pursuant to section 24.3 of MFDA By-law No. 1 in respect of International Capital Management Inc. ("ICM"), John Paul Sanchez ("John Sanchez") and Javier Andreas Sanchez ("Javier Sanchez") (collectively, the "Respondents").

Further to a Notice of Application issued on December 13, 2016, an appearance in this matter took place with notice to the Respondents on December 16, 2016, at which time the Hearing Panel made Orders imposing certain terms and conditions on the Respondents' conduct of securities related business. The Hearing Panel directed that the next appearance in this proceeding will take place on January 24, 2017 at 11:00 a.m. (Eastern).

Copies of the Notice of Application and 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 Members and their approximately 83,000 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, ctoth@mfda.ca

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