MFDA Hearing Panel approves Settlement Agreement with Alden M. Kaley

    TORONTO, Aug. 21 /CNW/ - A Settlement Hearing in the matter of Alden M.
Kaley was held today in Fredericton, New Brunswick before a Hearing Panel of
the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada
(the "MFDA").
    The Hearing Panel approved the Settlement Agreement between Mr. Kaley and
MFDA Staff, as a consequence of which Mr. Kaley:

    -  Paid a fine in the amount of $10,000;
    -  Was suspended from acting as a mutual fund salesperson for 6 months;
    -  Paid costs in the amount of $2,500.

    The Hearing Panel advised that it would issue written reasons for its
decision in due course.
    A copy of the Settlement Agreement and the Hearing Panel's Order are
available on the MFDA website at

    The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business conduct
of its 145 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

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