MFDA Pacific Regional Council Hearing Panel Makes Findings Against Ravi Puri

    VANCOUVER, Oct. 22 /CNW/ - A disciplinary hearing in the Matter of Ravi
Puri was held today before a Hearing Panel of the Pacific Regional Council of
the Mutual Fund Dealers Association of Canada ("MFDA") in Vancouver, British

    The Hearing Panel made the following orders at the conclusion of the
hearing and advised that it would issue written reasons for its decision in
due course:

    -   A permanent prohibition on Mr. Puri from conducting securities-
        related business in any capacity,
    -   A fine in the amount of $50,000 for failing to cooperate with an MFDA
    -   A fine in the amount of $500,000 for failing to deal with clients
        fairly, honestly and in good faith, and
    -   Costs in the amount of $10,000.

    A copy of the Notice of Hearing is available on the MFDA web site 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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