TORONTO, April 16, 2014 /CNW/ - Global RESP Corporation, Global Growth
Assets Inc., Global Educational Trust Foundation (collectively
"Global"), Margaret Singh and Sam Bouji have reached a settlement
agreement with the Ontario Securities Commission with respect to a
Notice of Hearing and Statement of Allegations issued January 10th, 2013.
Global's Chairman and Chief Executive Officer, Sam Bouji, has been
working in the financial services industry for 25 years and spent the
last 16 years building a highly successful group of financial services
companies offering education savings plans, mutual funds, life
insurance, stocks, bonds and other investments. As the companies
continue to grow, Global's commitment remains to provide Canadian
children with one of the leading products in the RESP industry.
Global has made positive changes to improve the compliance processes and
structure, in order to ensure Global's clients' needs have always been
and will continue to be its number one priority.
Under Sam Bouji's continued ownership and in accordance with the
settlement, Mr. Bouji will focus on the growth plans of the Global
family of companies and apply his expertise, knowledge and
entrepreneurship to help take them to the next level. Global is
committed to continue to assist Canadian children to fund their
education and remains focused on putting clients' and children's best
interests first. Global's experienced portfolio managers remain
committed to ensure all pooled funds are invested in safe and secure
As of today, the Global Educational Trust Plan has over $1 billion in
pledged deposits and over $540 million in assets under administration.
With over 117,000 children successfully enrolled, over 30,000 requests
for post-secondary education funding for students attending
post-secondary institutions in 37 countries worldwide, tens of
thousands of beneficiaries have reaped the benefits of their plans over
the years, totalling $181 million in education funding. To date, Global
has refunded 100% of sales charges (enrollment fees) to eligible
beneficiaries paid by subscribers since inception, albeit the refund is
discretionary and not guaranteed.
About The Global Family of Companies
The Global family of companies has 120 employees, over 1,000 sales
representatives across the nation servicing over 300,000 clients and
managing over $3 billion in combined assets. With corporate offices in
Vancouver, Calgary, Toronto, Montreal and Halifax, as well as affiliate
offices across Canada, Global's family of companies includes Global
RESP Corporation (GRESP), Global Maxfin Investments Inc. (GMII), Global
Insurance Solutions Inc. (GISI), Global Maxfin Capital Inc. (GMCI) and
Global Growth Assets Inc. (GGAI).
Image with caption: "Global family of companies (CNW Group/Global RESP Corporation) (CNW Group/Global family of companies)". Image available at: http://photos.newswire.ca/images/download/20140416_C4181_PHOTO_EN_39399.jpg
SOURCE: Global family of companies
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