IIROC terminates firm’s membership

By Staff | August 16, 2013 | Last updated on August 16, 2013
1 min read

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.

First Financial Securities admitted it failed to meet IIROC’s minimum capitalization requirement, contrary to IIROC Dealer Member Rule 17.1.

Pursuant to the settlement agreement, the firm agreed to a termination of its membership with IIROC.

Read the settlement agreement.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.