MFDA issues Notice of Settlement Hearing regarding Victor Lee

TORONTO, Jan. 5 /CNW/ - The 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 Prairie Regional Council.

The settlement agreement will be between Staff of the MFDA and Victor Raymond Fook Seng Lee (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 from January 24, 2008 to May 15, 2008, the Respondent, in his capacity as President, Chief Executive Officer, and Chief Compliance Officer of Laurier Capital Planning Inc., a former Member of the MFDA, engaged in business conduct or practice that was unbecoming or detrimental to the public interest by failing to ensure that Laurier maintained a compliance program that identified and addressed material risks of non-compliance and that appropriate supervision and compliance procedures to manage those risks had been implemented, contrary to MFDA Rules 2.1.1(c) and 2.5.1 and MFDA Policy 2.

The settlement hearing is scheduled to take place on February 1, 2011 commencing at 10:00 a.m. (Mountain), or as soon thereafter as the hearing can be held, in the hearing room located at the Fairmont Palliser Hotel, 133 9th Avenue SW, Calgary, Alberta. The hearing will be 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 136 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:

Shaun Devlin
Vice-President, Enforcement
416-943-4672 or sdevlin@mfda.ca


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