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Penalties: What the Panel Can Impose



When a Hearing Panel determines an appropriate penalty, it considers the general principles and guidelines below. These principles and guidelines may be taken into account when determining the appropriate sanction to be imposed as part of a Settlement Agreement or at the end of a disciplinary hearing.

Sanction guidelines for Dealer Members *Updated as of Sept. 19, 2014 

 
Sanction guidelines for Universal Market Integrity Rules

 

View IIROC's Unpaid Fines Report.

 

  Penalties for approved
  employees at IIROC-regulated
  firms can include:
  Penalties for firms regulated
  by IIROC can include:
  • A reprimand
  • Fines, up to a maximum of $1 million per contravention or an amount equal  to three times the profit made, or loss avoided, due to the contravention
  • Imposition of conditions on current approval in one or more categories of employment
  • Suspension of current approval in one or more categories of employment for any period of time and upon any conditions or terms
  • Prohibition of the right to seek future approval in one or more categories of employment
  • A ban, permanent or for a specific period of time, on approval in any or all categories of employment
  • A reprimand
  • Fines, up to a maximum of $5 million per contravention or an amount equal to three times the profit made or loss avoided due to the contravention
  • Imposition of conditions on membership
  • Suspension for any period of time and upon any conditions or terms
  • Expulsion
  • Any other fit remedy or penalty




 
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