TORONTO, Nov. 3, 2016 /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 Prairie Regional Council. The settlement agreement will be between Staff of the MFDA and Al Wei Loong Thong (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The subject matter of the proposed settlement agreement concerns the allegations that the Respondent, prior to being registered, referred one (1) client, and between August 12, 2008 and 2010, referred two (2) individuals to a company selling an exempt market product, and received at least $4,505.08 in referral fees for doing so, thereby participating in a referral arrangement to which the Member was not a party and which did not otherwise comply with MFDA Rules 1.1.1 and 2.4.2, and sections 13.7 to 13.10 of National Instrument 31-103. The settlement hearing is scheduled to take place on November 17, 2016, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be heard, in the hearing room at the Renaissance Edmonton Airport Hotel, located at 4236 36th Street East, Edmonton, Alberta. MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.