Hearing Panel terminates ASL Direct Inc.'s membership in the MFDA

TORONTO, May 18 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") issued a Notice of Application on May 13, 2010 pursuant to section 24.3 of MFDA By-law No. 1 in connection with ASL Direct Inc. ("ASL"), a Member of the MFDA.

Today, a Hearing Panel of the MFDA's Central Regional Council terminated ASL's membership in the MFDA and permanently stayed the matter of ASL Direct Inc. and Adrian Samuel Leemhuis (Case No. 200832) which was commenced by Notice of Hearing on October 17, 2008. The appearances previously scheduled for May 20 and 21, 2010 in this matter have now been abandoned.

Copies of the Hearing Panel's Order dated May 18, 2010 and the Notice of Application are available on the MFDA website at www.mfda.ca.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 139 Members and their approximately 73,000 Approved Persons with a mandate to protect investors and the public interest.

For further information: Shaun Devlin, Vice-President, Enforcement, [phone] or [email protected]