Please note that in this report and in this section of the IIROC website, we have used the general term ‘‘advisor’ to refer to a number of official regulatory approval categories such as Registered Representative and Investment Representative. ‘‘Advisor’’ is not an official IIROC approval category for individuals working at IIROC-regulated firms. ‘‘Advisor’’ is also not being used to represent an official registration category.

Q. I am getting no search results. Why?

A. There are several reasons why you may be having trouble retrieving information from the IIROC AdvisorReport. They may involve the employment status of the advisor, the spelling of advisor and firm names or technical issues relating to the search.

I. The advisor is no longer employed by an IIROC-regulated firm. IIROC AdvisorReports are not available for past registrants. Search IIROC’s list of Consolidated Enforcement Actions on the IIROC website for disciplinary hearing decisions involving past registrants.

II. The advisor was never employed by an IIROC-regulated firm. Continue your research in Search Outside IIROC.

III. Spelling. Make sure you have the precise spelling of the advisor’s last name. Avoid including middle names and initials.

IV. If you’re including the name of the firm, be careful to use the precise business name because some firms have numerous subsidiaries. When in doubt, leave the firm’s name out.

V. Technical reasons. You may not have ‘‘cookies’’ or ‘‘pop-ups’’ enabled on your computer.

Q. What is the primary purpose of the IIROC AdvisorReport search service?

A. The IIROC AdvisorReport is intended to help investors perform due diligence on IIROC-regulated investment advisors. This service responds, in part, to requests from investors for a more accessible central registry that makes important information regarding registration/approval and disciplinary history of market professionals available to investors. The report provides background on advisors employed at IIROC
regulated firms including what those registrants are approved and qualified to do. It also provides information on disciplinary proceedings undertaken by IIROC and other securities regulators. The Know Your Advisor web section also brings together a comprehensive one-stop investor guide to non-IIROC sources of information, databases, search tools and directories on individuals and firms.

Q. Is there any cost or restrictions on use to use the IIROC AdvisorReport search service?

A. There is no cost. To use the site, we ask only that you click to accept the site’s Terms of Use when prompted.

Q. What information does the report provide about IIROC disciplinary actions involving a particular advisor?

A. The AdvisorReport provides access to up-to-date information on IIROC disciplinary proceedings for all current registrants. It also includes any restrictions or conditions attached to current individuals’ membership/approval status as well as any indication of regulatory disclosures that an individual has made through his/her required National Registration Database registration or approval filings that relate to regulatory proceedings with securities regulatory authorities, other self-regulatory organizations or
non-securities regulators.

Q. What’s the full range of information I can expect to find in an IIROC AdvisorReport?

A. The Report provides:

• Personal information, including full name, firm where currently employed and registered, and employment history with IIROC-regulated firms. (Employment information prior to March 2003 is not available online but can be obtained by contacting IIROC directly at 1.877.442.4322.)
  
  
• IIROC approval categories for advisors. IIROC approves individuals to work at IIROC-regulated firms for specific categories of employment ( e.g. Registered Representative, Investment Representative.) The approval categories are important because they tell investors about the types of products that an advisor is allowed to trade in, whether they can advise clients, and whether they are an executive of the firm. Here is a full list of IIROC Approval Categories.
  
  
• Whether other regulators have approved the advisor to work in various provinces or territories. (The Canadian Securities Administrators (CSA) has its own set of conditions for registering individuals to trade securities in Canada’s provinces and territories.)
  
  
• A list of industry courses or examinations that an advisor has passed (or is exempt from having to take) in order to maintain his/her approval status with an IIROC-regulated firm. Any non-required courses, diplomas or degrees are not confirmed by IIROC.
  
  
• Whether terms or conditions have been placed on an advisor’s approval. Terms and conditions may be imposed for various reasons. For example, to address a regulator’s concerns about an individual’s integrity, financial soundness or proficiency; to restrict activities; or as a result of disciplinary or other proceedings. Terms and conditions include supervision or strict supervision status conditions.
  
  
• Any indication of regulatory disclosures (Yes or No) that the advisor has made through his/her required National Registration Database ( NRD) registration or approval filings that relate to regulatory proceeding with securities regulatory authorities, other self-regulatory organizations or non-securities regulators. A Yes response does not automatically indicate wrongdoing on the part of the advisor nor does it mean that a disciplinary proceeding has necessarily concluded with a finding of guilt; it is possible that the proceeding itself has not been completed or that the proceeding has been completed and there was no finding of guilt.  Investors are encouraged to contact the advisor directly to obtain more information.
  

Q. What should I do if I want to search for all the disciplinary actions involving a IIROC-regulated dealer firm, rather than a specific individual?

A. The IIROC AdvisorReport service is designed to produce background check reports on individuals. For information regarding a particular firm, please use IIROC’s Consolidated Enforcement Actions website search tool. Information is available for current and former IIROC regulated firms.

Q. Where does the information in the IIROC AdvisorReport come from and how often is it updated?

A. Information contained in the report will always be current as the information is drawn from the National Registration Database (NRD) at the end of each business day and from IIROC’s own disciplinary records posted on the IIROC website. Every IIROC AdvisorReport printed report will carry a date stamp to ensure users will know how up to date the information is.

Q. How far back does the information in the IIROC AdvisorReport database go?

A. Any employment information for advisors prior to March 2003 has to be requested from IIROC directly at 1.877.442.4322 . Any IIROC disciplinary action prior to September 1997 is not available from the electronic IIROC AdvisorReport database but can be requested from IIROC directly at the same number.

Q. I’m curious to know what my advisor is qualified to do. 

A. Qualifications for registrants at IIROC-regulated firms are defined by Approval Categories and these will appear on IIROC AdvisorReports. Click here for a full list of the approval categories of IIROC registration.