TORONTO,
Jan. 30, 2013 /CNW/ - Northern
Financial Corporation (TSX-V: NFC) ("Northern Financial" or
the "Company") announced that its wholly-owned subsidiary,
Northern Securities Inc. ("NSI") today received a notice
(the "Notice") from the Investment Industry Regulatory
Organization of Canada
("IIROC") that a set-date hearing has been scheduled for
Thursday, February 7, 2013 for the
purpose of seeking a date for a future hearing to deal with certain
allegations by IIROC staff concerning NSI's risk-adjusted capital
and its financial controls.
NSI will be preparing a response to the Notice
that will be provided to IIROC.
About Northern Financial Corporation
Northern Financial Corporation wholly owns
Northern Securities Inc., a full service investment dealer that
provides financial advisory services to retail and institutional
clients and investment banking services to small capitalization
companies.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this news release.
This press release may contain forward-looking statements with
respect to the Company, its operations, strategy, financial
performance and condition. These statements generally can be
identified by use of forward looking words such as "may", "will",
"expect", "estimate", "anticipate", intends", "believe" or
"continue" or the negative thereof or similar variations. The
actual results and performance of the Company discussed herein
could differ materially from those expressed or implied by such
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations.
Important factors that could cause actual results to differ
materially from expectations include, among other things, general
economic and market factors, competition, changes in government
regulations and the factors described under "Risk Factors" in the
Management's Discussion and Analysis and Filing Statement of the
Company which are available at www.sedar.com. The cautionary
statements qualify all forward-looking statements attributable to
the Company and persons acting on their behalf. Unless otherwise
stated, all forward-looking statements speak only as of the date of
this press release and the Company has no obligation to update such
statements.
SOURCE Northern Financial Corporation