TORONTO, June 3, 2013 /CNW/ - The MFDA commenced proceedings in respect
of W. H. Stuart Mutuals Ltd. ("W.H. Stuart") and Marilyn Dianne Stuart
("Stuart") by Notice of Application issued April 29, 2013.
An appearance in this proceeding took place on May 31, 2013 by
teleconference before a 3-person Hearing Panel of the MFDA's Central
Regional Council. Following submissions from Staff of the MFDA and
counsel for Ms. Stuart, the Hearing Panel, among other orders,
suspended the rights and privileges of MFDA membership of W. H. Stuart
pursuant to section 24.3.3 of MFDA By-law No. 1. The Hearing Panel
advised that it will issue written reasons for its decisions concerning
matters raised during this application proceeding in due course and
adjourned the proceeding indefinitely. Any party to the proceeding is
permitted to request a further appearance before the Hearing Panel on a
minimum of 5 days' notice.
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 115 Members and their approximately 80,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE: Mutual Fund Dealers Association of Canada
For further information:
Director of Litigation