MFDA Hearing Panel Approves Settlement Agreement with Rodney Jacobson

    CALGARY, June 12 /CNW/ - A Settlement Hearing in the Matter of Rodney
Jacobson was held yesterday before a Hearing Panel of the Prairie Regional
Council of the Mutual Fund Dealers Association of Canada ("MFDA"). The Hearing
Panel approved the Settlement Agreement between the MFDA and Mr. Jacobson. The
following is a summary of the Orders made by the Hearing Panel:

    -  A permanent prohibition on the authority of Mr. Jacobson to conduct
       securities related business in any capacity; and

    -  A fine in the amount of $15,000.

    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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