MFDA adjourns settlement hearing in the matter of International Capital Management Inc., John Paul Sanchez and Javier Andreas Sanchez

June 25, 2018 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of International Capital Management Inc., John Paul Sanchez and Javier Andreas Sanchez by Notice of Hearing dated May 30, 2017.

A settlement hearing in this proceeding commenced June 21, 2018 before a three-member Hearing Panel of the MFDA’s Central Regional Council. Following submissions from the parties, the Hearing Panel adjourned the settlement hearing and directed that the next appearance take place by teleconference on June 26, 2018 at 9:00 a.m. (Eastern), or as soon thereafter as the appearance can be held.

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.

A copy of the Notice of 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 Members and their approximately 82,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA’s complaint and enforcement processes, as well as links to ‘Check an Advisor’ and other Investor Tools, visit the For Investors page on the MFDA website.