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| MFDA issues second notice of
settlement hearing in Berkshire case |
| Previous settlement rejected by panel |
| Thursday, November 29, 2007
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By James Langton
The Mutual Fund Dealers Association of Canada is going to take a second
crack at settling with Berkshire Investment Group Inc. in the Ian Thow
case.
The MFDA today issued a second notice of settlement hearing for its
Pacific Regional Council to consider a settlement between staff of the
MFDA and Berkshire.
The proposed settlement concerns allegations that Berkshire failed to
conduct reasonable supervisory investigations of the activities of
former fund salesman, Ian Gregory Thow, and to take such reasonable
supervisory and disciplinary measures as would be warranted by the
results of its investigations.
At the first settlement hearing held on October 22, the hearing panel
declined to approve a settlement agreement entered into between MFDA
staff and Berkshire concerning the same subject matter. Terms of the
rejected settlement were not announced, as is customary with the MFDA.
Following that hearing, the MFDA and Berkshire were free to attempt to
reach a different settlement or the MFDA could issue a notice of
hearing. The second settlement hearing is scheduled for Thursday,
December 13, in Vancouver.
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see: |
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Ian Thow
takes flight |
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