TORONTO, Dec. 1 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Donald James Cunningham by Notice of Hearing dated March 3, 2009. On November 20, 2009, the MFDA issued a Notice of Settlement Hearing announcing that a settlement hearing would be held in this matter on December 1, 2009.

A settlement hearing was held today in Toronto, Ontario before a Hearing Panel of the MFDA's Central Regional Council. The Hearing Panel reserved its decision to either accept or reject the settlement agreement between MFDA Staff and Mr. Cunningham. The Hearing Panel advised that it will make its decision and issue written reasons for its decision in due course.

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 144 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, (416) 945-5146 or mwynnyckyj@mfda.ca