Settlement Agreement Approved for Former Dealing Representative

The Nova Scotia Securities Commission has approved a settlement agreement with Glenn Francis Dunbar, a former dealing representative with Quadrus Investment Services.

Mr. Dunbar violated Nova Scotia securities laws by failing to deal fairly, honestly and in good faith with his clients, which included making untrue or misleading statements. He also failed to notify the commission of various business dealings.

"It's important for investors to receive true and accurate information about their accounts activities and potential investment opportunities from their advisers," said Heidi Schedler, senior enforcement counsel for the Nova Scotia Securities Commission. "When investors are misled, it jeopardizes their financial stability and hinders them from making an informed investment decision."

Mr. Dunbar has accepted responsibility for his conduct.

The commission approved the settlement agreement and ordered Mr. Dunbar to:

• comply and cease contravening with Nova Scotia securities laws
• cease trading permanently in securities on his own behalf or on behalf of others, except through a person or company duty registered with the commission
• be banned permanently from the use of exemptions contained Nova Scotia Securities laws
• be prohibited permanently from becoming or acting as a director or officer of any issuer, registrant or investment fund manager
• cancel his registration and be banned permanently from becoming registered with the commission
• be reprimanded
• pay an administrative penalty of $350,000
• pay costs in connection with the commission proceedings of $6500

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the order please visit http://nssc.novascotia.ca .