Enforcement Notice - Hearing - IN THE MATTER OF Global Maxfin Capital Inc. and Issam El-Bouji - Settlement Hearing

TORONTO, Nov. 26, 2015 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept a Settlement Agreement entered into between IIROC staff, Global Maxfin Capital Inc. and Issam El-Bouji.

The Agreement concerns conduct involving Global Maxfin Capital Inc.'s failure to maintain Risk Adjusted Capital greater than zero between June 2012 and September 25, 2012 and Mr. El-Bouji's failure, as Ultimate Designated Person (UDP), to ensure compliance with IIROC's Dealer Member Rules in this regard.

The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

Hearing Date:

December 3, 2015, 10:00 a.m.


IIROC – Quebec Room

121 King Street West, Suite 2000

Toronto, Ontario

IIROC formally initiated the investigation into the conduct of Global Maxfin Capital Inc. and Mr. El-Bouji in October 2013.  The conduct occurred while Mr. El-Bouji was the Ultimate Designated Person with the Toronto branch of Global Maxfin Capital Inc., an IIROC-regulated firm.  Mr. El-Bouji is no longer registered as a UDP in the securities industry.

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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.  IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

 IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information: Enforcement Contact: Elsa Renzella, Vice President, Enforcement, 416 943-5877, erenzella@iiroc.ca; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, karcher@iiroc.ca


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