MFDA issues Notice of Hearing regarding Ronald Freynet

    TORONTO, March 19 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Ronald Freynet.
    MFDA staff alleges in its Notice of Hearing that Mr. Freynet engaged in
the following conduct contrary to the By-laws, Rules or Policies of the MFDA:

        Allegation No.1: In or about January 2003, the Respondent obtained an
        unsecured loan in the amount of $20,000 from client GN which he
        subsequently failed to repay, thereby placing his own personal
        interests above those of his client and failing to address the
        resulting conflict of interest by the exercise of responsible
        business judgment influenced only by the best interests of GN,
        contrary to MFDA Rules 2.1.4 and 2.1.1.

        Allegation No.2: In December 2003, the Respondent failed to deal
        fairly, honestly and in good faith with clients KG, CG and ML by
        misappropriating from them the total amount of approximately $30,000,
        of which amount the Respondent failed to repay or otherwise account
        for $10,000 received from ML, contrary to MFDA Rule 2.1.1.

    The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA Prairie Regional on Friday, April 20, 2007
at 10:00 a.m. (Manitoba) or as soon thereafter as can be held. The purpose of
the first appearance is to schedule the date for the commencement of the
hearing on its merits and to address any other procedural matters.
    The first appearance is open to the public, except as may be required for
the protection of confidential matters. Members of the public who want to
listen to the teleconference for the first appearance should contact Yvette
MacDougall, MFDA Hearings Coordinator, at 416-943-4606 or by e-mail at on or before Wednesday, April 18, 2007 to obtain
particulars. The Hearing on the Merits will take place at a location in
Winnipeg, Manitoba at a time, place and venue to be announced at a later date.
    A copy of the Notice of Hearing 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 163 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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