MFDA commences Hearing on the Merits in the Matter of Scott Armstrong

July 8, 2011 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Hearing in respect of Scott C. Armstrong on January 19, 2011.

The hearing of this matter on its merits commenced on July 6-8, 2011 before a Hearing Panel of the MFDA’s Atlantic Regional Council and was adjourned to August 22-26, 2011 at 10:00 a.m. (Atlantic) each day (with the exception of August 22, 2011 when the hearing will commence at 2:00 p.m. (Atlantic)) in the hearing room located at the Hilton Saint John Hotel, 1 Market Square, Saint John, New Brunswick.

The hearing will continue to be open to the public, except as may be required for the protection of confidential matters.

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 133 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.