Enforcement Notice - Decision - IN THE MATTER of Milad Nassif - Settlement Accepted

MONTRÉAL, Nov. 18, 2014 /CNW/ - On October 16, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Milad Nassif.

Mr. Nassif admitted that, between September 2010 and December 2011, he failed to use due diligence to ensure that the acceptance of orders, in his account and those of his spouse and son, were within the bounds of good business practice.

Specifically,  Milad Nassif  admitted to the following violation:

Pursuant to the Settlement Agreement, Mr. Nassif agreed to the following penalties:

Mr. Nassif also agreed to pay IIROC costs in the amount of $2,500.

The Settlement Agreement is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=669601E3BC5E4E6889BDC4FA90A88ACA&Language=en.
(The translated version of this Settlement Agreement will be posted when it becomes available) and the Hearing Panel's decision, dated October 16, 2014, is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=79FBFD768DD8402CBF69B1A63CD5B22B&Language=en.
(The translated version of this Decision will be posted when it becomes available).

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.

IIROC formally initiated the investigation into Mr. Nassif's conduct in May 2012. The violations occurred when Mr. Nassif was a Registered Representative with the Montréal branch of CTI Capital Securities Inc., an IIROC-regulated firm. Mr. Nassif is no longer a registrant with 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

Related Links

http://www.iiroc.ca