MFDA Prairie Hearing in the Matter of Ronald Freynet

    WINNIPEG, June 12 /CNW/ - A disciplinary hearing in the Matter of Ronald
Freynet was held today before a Hearing Panel of the Prairie Regional Council
of the Mutual Fund Dealers Association of Canada ("MFDA") in Winnipeg,
Manitoba. At the hearing, the Hearing Panel reviewed an Agreed Statement of
Facts entered into by Mr. Freynet with staff of the MFDA, in which Mr. Freynet
admitted to the misconduct as alleged in the Notice of Hearing. The Hearing
Panel also received joint submissions of the parties with respect to the
appropriate penalty.
    The Hearing Panel made the following order at the conclusion of the
hearing and advised that it would issue written reasons for its decision in
due course:

    -   A permanent prohibition on the authority of Mr. Freynet to conduct
        securities-related business in any capacity while in the employ of,
        or associated with, any MFDA Member, pursuant to s. 24.1.1(e) of MFDA
        By-law No. 1;

    -   A fine in the amount of $10,000, pursuant to s. 24.1.1(b) of MFDA By-
        law No. 1; and

    -   Costs in the amount of $2,500, pursuant to s. 24.2 of MFDA By-law
        No. 1.

    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 representatives 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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