MFDA Hearing Panel Issues Reasons for Decision in the Matter of Kevin Desbois

TORONTO, March 23 /CNW/ - An MFDA Hearing Panel has issued its Reasons for Decision in connection with the disciplinary hearing held in Toronto, Ontario on March 9, 2010 in the Matter of Kevin Desbois.

The Hearing Panel imposed the following penalties and costs on Mr. Desbois:

    
    -  A permanent prohibition from conducting securities-related business in
       any capacity while in the employ of, or associated with, any MFDA
       Member;
    -  A fine in the amount of $50,000; and
    -  Costs in the amount of $7,500.
    

A copy of the Reasons for Decision is 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 141 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

For further information: Marco Wynnyckyj, Hearings Coordinator, [phone] or [email protected]