IIROC announces suspension of MF Global Canada Co.

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

For further information:

Lucy Becker
Vice President, Public Affairs
    Jeff Kehoe
Vice President, Enforcement

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