MFDA Hearing Panel Approves Settlement Agreement with Sterling Mutuals Inc.

    TORONTO, Aug. 21 /CNW/ - A Settlement Hearing in the matter of Sterling
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 Sterling Mutuals
Inc. The following is a summary of the Orders made by the Hearing Panel:

    -   A fine in the amount of $50,000;

    -   Retain an independent monitor to resolve the compliance deficiencies;

    -   Costs in the amount of $5,000

    The Hearing Panel advised that it would issue written reasons in due
    A copy of the Settlement Agreement with Sterling Mutuals Inc. is
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 158 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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