TORONTO, May 7, 2013 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has withdrawn the allegations in the Notice of Hearing dated January 30, 2012 in respect of James E. Sellars (the "Respondent"), and the disciplinary proceeding against the Respondent is concluded. As a result, the motion previously scheduled for May 9, 2013 in Moncton, New Brunswick will not take place. The MFDA's decision was based upon a reassessment of the case.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 116 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
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Director of Litigation