MFDA issues Notice of Settlement Hearing regarding Carmine Mazzotta

TORONTO , Jan. 20 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") today announced that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Central Regional Council.

The settlement agreement will be between staff of the MFDA and Carmine Mazzotta (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The proposed settlement agreement concerns allegations that, contrary to MFDA Rules, the Respondent:

    
    a)  contravened the directions of the Member with respect to the referral
        or sale of an investment product;
    b)  engaged in securities related business that was not carried on for
        the account of the Member and through the facilities of the Member;
        and
    c)  carried on a dual occupation that was not disclosed to and approved
        by the Member.
    

The settlement hearing is scheduled to commence at 10:00 a.m. (Eastern) on January 22, 2010 in the Hearing Room at the MFDA offices located at 121 King Street West , Suite 1000, Toronto , Ontario. The settlement hearing will be open to the public, except as may be required for the protection of confidential matters. A copy of the Notice of Settlement Hearing 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: Shaun Devlin, Vice-President, Enforcement, [phone] or [email protected]