MFDA issues Notice of Settlement Hearing regarding Desjardins Financial Security Investments Inc. (formerly known as Optifund Investments Inc.)



    TORONTO, April 6 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has issued a Notice of Settlement Hearing
regarding the presentation, review and consideration of a proposed settlement
agreement by a Hearing Panel of the MFDA's Central Regional Council.
    The settlement agreement will be between staff of the MFDA and Desjardins
Financial Security Investments Inc. (the "Respondent") and involves matters
for which the Respondent may be disciplined by a Hearing Panel pursuant to
MFDA By-laws.
    The subject matter of the proposed settlement agreement concerns
allegations that the Respondent failed to ensure that:

    
    (a) a qualified branch manager was supervising its London, Ontario
        branch;
    (b) adequate controls and supervision were in place to prevent an
        unregistered individual from engaging in securities related business
        with clients; and
    (c) reasonable supervisory investigations were conducted in response to
        information that an unregistered individual was engaging in
        securities related business with clients.
    

    The settlement hearing is scheduled to commence at 10:00 a.m. (Eastern)
on May 6, 2009 in the Hearing Room in the MFDA offices located at 121 King
Street West, Suite 1000, Toronto, Ontario. The hearing is open to the public
except as may be required for the protection of confidential matters. A copy
of the Notice of Settlement Hearing 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 150 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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