MFDA issues Notice of Application regarding ASL Direct Inc.

TORONTO, May 14 /CNW/ - The MFDA today announced that it has issued a Notice of Application under section 24.3 of MFDA By-law No. 1 in respect of ASL Direct Inc. ("ASL").

The Notice of Application states that MFDA Staff will be seeking, among other things, an order terminating ASL's Membership in the MFDA.

The application will be heard by a hearing panel of the MFDA's Central Regional Council in the Hearing Room located at the offices of the MFDA, 121 King Street West, Suite 1000, Toronto, Ontario on May 18, 2010 at 9:00 a.m. (Eastern), or as soon thereafter as the appearance can be held. The appearance will be open to the public, except as may be required for the protection of confidential matters.

A copy of the Notice of Application 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 140 Members and their approximately 73,000 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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