The Investment Dealers Association of Canada has scheduled a hearing before the Ontario District Council of the Association concerning Jeffrey MacDonald.

The hearing is scheduled to begin Monday, September 24, 2001, at 9:30am, at the offices of the Association, located at 121 King Street West, Suite 1600, in Toronto, Ontario. It will be open to the public except as may be required for the protection of confidential matters.

The hearing is in regards to allegations made by IDA enforcement staff that MacDonald, while a registered representative, employed at ScotiaMcLeod Inc. made several recommendations to his clients that were not appropriate and were not in keeping with their investment objectives, and accepted trading instructions from a third party on the accounts of several clients without proper authorizing documentation.