MFDA Hearing Panel Approves Settlement Agreement with Keybase Financial Group Inc. and Dax Sukhraj

    TORONTO, April 22 /CNW/ - A Settlement Hearing in the matter of Keybase
Financial Group Inc. and Dax Sukhraj (the "Respondents") 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 Staff of the
MFDA and the Respondents. The following is a summary of the Orders made by the
Hearing Panel:

    -   Keybase Financial Group Inc. shall pay a fine in the amount
        of $150,000;
    -   Keybase Financial Group Inc. shall retain an independent monitor to
        resolve certain compliance deficiencies;
    -   Dax Sukhraj shall pay a fine in the amount of $50,000;
    -   Dax Sukhraj shall complete the Partners, Directors and Senior
        Officers course within 1 year; and
    -   The Respondents shall pay costs in the amount of $25,000.00

    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

    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

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