TORONTO, Feb. 27, 2023 /CNW/ - A Hearing Panel of the Mutual Fund Dealers Association of Canada, now New Self-Regulatory Organization of Canada ("New SRO"), has issued its Reasons for Decision dated February 7, 2023 ("Reasons for Decision"), in connection with a settlement hearing held electronically by videoconference in Toronto, Ontario on December 15, 2022, in the matter of Queen Financial Group Inc. (the "Respondent").

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

• has paid a fine of $30,000; and
• has paid costs of $7,500.

A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca.

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.

SOURCE New Self-Regulatory Organization of Canada (New SRO)

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