IIROC announces settlement hearing for Al-Nashir Jiwa and Matthew Douglas Hoffar

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.

Hearing Date:  November 30, 2011 at 2:00 p.m.

Reportex Agencies Ltd.
925 West Georgia Street, Suite 1010
Vancouver, BC

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.

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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

For further information:

Warren Funt
Vice President, Western Canada
  Elsa Renzella
Director, Enforcement Litigation


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