News release

May 12, 2023 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”), now New Self-Regulatory Organization of Canada (“New SRO”), commenced a disciplinary proceeding in respect of Ann Marie Reid (the “Respondent”) by Notice of Hearing dated August 22, 2022 (“Notice of Hearing”).

As previously announced, the Hearing on the Merits in this proceeding was held on April 26-27, 2023 electronically by videoconference before a Hearing Panel of the New SRO’s Ontario District Hearing Committee.

Following submissions from the parties, the Hearing Panel adjourned the hearing to resume electronically by videoconference on June 26, 2023, commencing at 10:00 a.m. (Eastern). The proceeding will continue to be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to observe the electronic hearing should contact hearings@mfda.ca to obtain particulars.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Mississauga and Toronto, Ontario areas.

New Self-Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.newselfregulatoryorganizationofcanada.ca.

-30-