VANCOUVER, Nov. 18, 2011 /CNW/ - A hearing has been scheduled before a
Hearing Panel of the Investment Industry Regulatory Organization of
Canada (IIROC) to consider whether the Hearing Panel should accept
Settlement Agreements entered into between Staff of IIROC and Al-Nashir
Jiwa and Matthew Douglas Hoffar.
The proposed Settlement Agreements concern allegations that Mr. Jiwa and
Mr. Hoffar failed to adequately perform their role as gatekeepers to
the capital markets by failing to make sufficiently reasonable or
diligent inquiries in relation to client trading activity.
The hearing is not open to the public, unless and until the Settlement
Agreements have been accepted by the Hearing Panel. If the Settlement
Agreements are accepted, the Panel's decision and reasons, together
with the Settlement Agreements will be made available at www.iiroc.ca.
November 30, 2011 at 2:00 p.m.
Reportex Agencies Ltd.
925 West Georgia Street, Suite 1010
IIROC formally initiated the investigation into Mr. Jiwa and Mr.
Hoffar's conduct in June 2008. The alleged violations occurred when
Mr. Jiwa and Mr. Hoffar were Registered Representatives at the
Vancouver office of Haywood Securities. Mr. Jiwa continues to be
employed with Haywood Securities. Mr. Hoffar is no longer a registrant
with an IIROC-regulated firm.
* * *
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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