MFDA Hearing Panel approves Settlement Agreement with Partners In Planning
Financial Services Ltd.

TORONTO, Nov. 26 /CNW/ - A Settlement Hearing in the matter of Partners In Planning Financial Services Ltd. (the "Respondent") was held on November 25, 2010 in Regina, Saskatchewan, before a Hearing Panel of the MFDA's Prairie Regional Council.

The Hearing Panel approved the Settlement Agreement between the Respondent and MFDA Staff, as a consequence of which the Respondent:

• Has paid a fine in the amount of $20,000;
• Has paid the costs of the proceeding in the amount of $2,500;
• Shall retain an independent consultant at the Respondent's expense to assist in resolving certain leverage related deficiencies pursuant to the Terms of the Independent Monitor attached to the Settlement Agreement; and
• Agrees in the future to comply with all MFDA By-laws, Rules and Policies, and all applicable securities legislation and regulations made thereunder, including MFDA Rules 2.2.1, 2.5.2 and 2.10 and MFDA Policy No. 2.

In the Settlement Agreement, the Respondent admitted to the following contraventions of MFDA Rules prior to April 2010:

• it failed to establish, implement and maintain adequate policies and procedures to supervise leveraged trades and ensure the suitability of leveraging recommendations made by Approved Persons to clients; and
• it failed to maintain sufficient records of the supervision of leveraged trading and leveraging recommendations conducted by its Approved Persons, including records of trades reviewed, inquiries made, responses received and resolutions achieved.

The Hearing Panel will issue written reasons for its decision in due course. Copies of the Settlement Agreement and the Hearing Panel's Order 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 136 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

For further information:

Shaun Devlin
Vice-President, Enforcement
416-943-4672 or [email protected]