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SOURCE Mutual Fund Dealers Association of Canada
TORONTO, Oct. 25, 2013 /CNW/ - An Application Hearing in the matter of MonArc Money Solutions Inc. was held today in Toronto, Ontario before a 3-person Hearing Panel of the MFDA's Central Regional Council pursuant to section 24.3.2 of MFDA By-law No. 1.
Following submissions from MFDA counsel and MonArc Money Solutions Inc., on consent of MonArc Money Solutions Inc., the Hearing Panel signed an Order granting certain relief, including:
a) all client accounts being transferred from MonArc Money Solutions Inc.; or
b) Tuesday November 12, 2013.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 115 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.
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