MFDA Hearing Panel Approves Settlement Agreement with Professional Investments (Kingston) Inc.

    TORONTO, Feb. 23 /CNW/ - A Settlement Hearing in the matter of
Professional Investments (Kingston) Inc. was held on January 23, 2009 before a
Hearing Panel of the Central Regional Council of the Mutual Fund Dealers
Association of Canada ("MFDA"). The Hearing Panel reserved its judgment at
that time.
    The Hearing Panel has approved the Settlement Agreement between staff of
the MFDA and Professional Investments (Kingston) Inc., as a consequence of
which Professional Investments (Kingston) Inc. shall:

    -  Pay a fine in the amount of $10,000;
    -  Pay costs in the amount of $2,500; and
    -  Retain an independent monitor to assist in resolving certain
       deficiencies in its trade supervision structure and review and test
       the Respondent's recently implemented trade supervision procedures.

    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 152 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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