Proceedings

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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, C.S.5, AS AMENDED

- AND -

IBK CAPITAL CORP. AND
WILLIAM F. WHITE


NOTICE OF HEARING
(Sections 127 and 127.1)


      TAKE NOTICE that the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to sections 127(1) and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) at the offices of the Commission located at 20 Queen Street West, Toronto, Ontario, 17th Floor, on Wednesday, the 2nd day of December, 2009, at 3:00 p.m. or as soon thereafter as the hearing can be held.

      TO CONSIDER whether, pursuant to sections 127(1) and 127.1 of the Act, it is in the public interest for the Commission to make an order that:

      (a) trading in securities by William F. White (“White”) cease permanently or for such other period as specified by the Commission;

      (b) White resign one or more positions that he holds as a director or officer of any issuer or registrant;

      (c) White be prohibited from becoming or acting as director or officer of any issuer or registrant;

      (d) the Respondents be reprimanded;

      (e) the Respondents each pay an administrative penalty of not more than $1 million for each failure by that Respondent to comply with Ontario securities law;

      (f) each of the Respondents disgorge to the Commission any amounts obtained as a result of non-compliance by that Respondent with Ontario securities law;

      (g) IBK submit to a review of its practices and procedures and institute such changes as may be ordered by the Commission;

      (h) the Respondents be ordered to pay the costs of the Commission’s investigation and the hearing; and

      (i) such further orders as the Commission considers appropriate.

      BY REASON OF the allegations set out in the related Statement of Allegations of Staff of the Commission dated November 12, 2009, and such additional allegations as counsel may advise and the Commission may permit;


      AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to any further notice of the proceeding.

      DATED at Toronto this 12th day of November, 2009.


" John Stevenson "
John Stevenson
Secretary to the Commission



TO:               IBK Capital Corp.
                      c/o Mr. R. Paul Steep
                      McCarthy Tétrault LLP
                      TD Bank Tower
                      66 Wellington Street West
                      Suite 4700
                      P.O. Box 48, Toronto Dominion Bank Tower
                      Toronto ON M5K 1E6


AND TO:      William F. White
                       c/o Mr. R. Paul Steep
                       McCarthy Tétrault LLP
                       TD Bank Tower
                       66 Wellington Street West
                       Suite 4700
                       P.O. Box 48, Toronto Dominion Bank Tower
                       Toronto ON M5K 1E6