MFDA Hearing Panel Reserves Judgment on Motion Brought by Farm Mutual Financial Services Inc.

    TORONTO, Sept. 9 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") commenced a disciplinary proceeding in respect of Farm Mutual
Financial Services Inc. ("Farm Mutual") by Notice of Hearing dated June 2,
    As directed by the Hearing Panel at the first appearance held June 27,
2008, a pre-hearing motion by Farm Mutual was heard by the Hearing Panel
today. Following preliminary submissions by the parties with respect to the
conduct of the motion, the Hearing Panel heard submissions concerning the
MFDA's jurisdiction to regulate the distribution of exempt securities by its
Members in Ontario.
    The Hearing Panel reserved its judgment with respect to both the
preliminary matters and the merits of the motion pending further written
submissions to be filed by the parties.

    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 157 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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