TORONTO, May 6 /CNW/ - A Settlement Hearing in the matter of Desjardins
Financial Security Investments Inc. ("Desjardins") was held today before a
Hearing Panel of the Central Regional Council of the Mutual Fund Dealers
Association of Canada (the "MFDA").
The Hearing Panel approved the Settlement Agreement between Desjardins
and MFDA Staff, as a consequence of which Desjardins:
- Paid a fine in the amount of $75,000; and
- Paid costs in the amount of $15,000.
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 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 150 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 email@example.com