Enforcement Notice - IN THE MATTER OF CTI Capital Securities Inc. - Settlement Hearing

MONTRÉAL, Feb. 25, 2014 /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 a Settlement Agreement entered into between IIROC staff and CTI Capital Securities Inc. (CTI Capital).

The Settlement Agreement concerns allegations that CTI Capital failed to use due diligence to ensure that the acceptance of orders in the PRO accounts of Milad Nassif, one of its investment advisors, was within the bounds of good business practice, between the months of September 2010 and December 2011.

The hearing is not open to the public, unless and until the Settlement Agreement has been accepted by the Hearing Panel. If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.

Documents related to ongoing IIROC enforcement proceedings - including Reasons and Decisions of Hearing Panels - are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

Hearing Date:		March 6, 2014, at 10:00 a.m.
Location:		Centre Mont-Royal 2200 Mansfield Street Montréal, Québec

IIROC formally initiated the investigation into CTI Capital's conduct in May 2013.  The conduct occurred when CTI Capital was an IIROC-regulated firm. CTI Capital is still an IIROC-regulated firm.

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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.

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, permanent bars, expulsion from membership, or termination of rights and privileges 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.

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News

Enforcement Contact: 

Carmen Crépin
Vice President, Québec
514 878-2854
[email protected]

Media Contact: 

Karen Archer
Senior Media and
Public Affairs Specialist
416 865-3046
[email protected]