TORONTO, Nov. 1, 2011 /CNW/ - Today a Hearing Panel of the Investment
Industry Regulatory Organization of Canada (IIROC) held an expedited
hearing in which MF Global Canada Co. consented to an order that the
firm be immediately suspended from membership in IIROC and that it
immediately cease dealing with the public.
IIROC staff applied for the order to suspend the firm as part of its
commitment to take every action available within its regulatory power
and authority to protect client assets.
The order also enables IIROC staff to permit MF Global Canada Co. to
execute liquidating trades in order to facilitate the orderly transfer
of client accounts.
IIROC is continuing to monitor developments and working closely with
other regulatory organizations and stakeholders to protect investors.
On Oct. 31, 2011, MF Global Holdings Ltd., the parent company of MF
Global Canada Co., filed for bankruptcy in the United States. In a
related development, MF Global Canada Co. consented in today's hearing
to the suspension and acknowledged that it is capital deficient as of
Nov. 1, 2011.
The Notice provides additional details and a link to the panel's order.
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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 and permanent bans or
terminations 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.
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services Inc.,
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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
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