The Mutual Fund Dealers Association of Canada is going to take a second crack at settling with Berkshire Investment Group Inc. in the Ian Thow case.

The MFDA today issued a second notice of settlement hearing for its Pacific Regional Council to consider a settlement between staff of the MFDA and Berkshire.

The proposed settlement concerns allegations that Berkshire failed to conduct reasonable supervisory investigations of the activities of former fund salesman, Ian Gregory Thow, and to take such reasonable supervisory and disciplinary measures as would be warranted by the results of its investigations.

At the first settlement hearing held on October 22, the hearing panel declined to approve a settlement agreement entered into between MFDA staff and Berkshire concerning the same subject matter. Terms of the rejected settlement were not announced, as is customary with the MFDA.

Following that hearing, the MFDA and Berkshire were free to attempt to reach a different settlement or the MFDA could issue a notice of hearing. The second settlement hearing is scheduled for Thursday, December 13, in Vancouver.