MFDA Hearing Panel Approves Settlement Agreement with Altimum Mutuals Inc.

    TORONTO, June 15 /CNW/ - A Settlement Hearing in the Matter of Altimum
Mutuals Inc. was held today before a Hearing Panel of the Central Regional
Council of the Mutual Fund Dealers Association of Canada ("MFDA"). The Hearing
Panel approved the Settlement Agreement between the MFDA and Altimum Mutuals
Inc. The following is a summary of the Order made by the Hearing Panel:

    -   The Respondent shall pay a fine in the amount of $10,000 pursuant to
        MFDA By-Law No. 1, section 24.1.1(b).

    The Hearing Panel advised that it would issue written reasons in due
    A copy of the Order and Settlement Agreement are available on the MFDA
website at

    The Mutual Fund Dealers Association of Canada is the self-regulatory
organization for Canadian mutual fund dealers. The MFDA regulates the
operations, standards of practice and business conduct of its 162 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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