IN THE MATTER OF First Financial Securities Inc. - Settlement Accepted

VANCOUVER, Aug. 15, 2013 /CNW/ - On July 30, 2013, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and First Financial Securities Inc.

First Financial Securities Inc. admitted that they failed to meet IIROC's minimum capitalization requirement, contrary to IIROC Dealer Member Rule 17.1.

Pursuant to the Settlement Agreement, First Financial Securities Inc. agreed to the following penalty:

a)     Termination of its membership with IIROC.

The Settlement Agreement is available at
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=16246A7412994133ACDB49E7F9814B89&Language=en
and the Hearing Panel's decision 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.

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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 1877442-4322.

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



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