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Enforcement Statistics



IIROC maintains statistics on the complaints it receives and the investigations and prosecutions it conducts. It also tracks disciplinary statistics for those complaints and matters that regulated firms are required to file to IIROC through the Complaints and Settlement Reporting System (ComSet).

IIROC monitors client complaints and disciplinary matters to proactively identify emerging regulatory issues in the industry it regulates. IIROC requires regulated firms to report client complaints and disciplinary matters, including internal investigations, denial of registration, disciplinary actions, settlements, and civil, criminal or regulatory action against the firm or its registered employees.

 


 

Case Assessment

Number of Dealer Members: 179
Number of case assessments files currently under review: 94

Case Assessment files opened by Source

​Source 2017* 2016​ ​ 2015
Public 97 198 209
ComSet  89 202 166
Internal  22 32 43
Other SROs and Commissions  9 20 11
Other  - 2 2

*as of June 30, 2017

 Number of Case Assessment files opened

Bar graph showing case assessment files opened by source

Case Assessment files opened by Type

 

​Type 2017* 2016​ ​ 2015
Unauthorized and discretionary trading 25 ​56 73
Unsuitable investments 61 169 142
Misrepresentation 8 30 12
Service issues - 1 1
Other  123 ​198 203

 *as of June 30, 2017

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Investigations

Number of investigations currently under review: 139

Number of Investigations completed

Bar graph showing number of investigations completed

2017* 2016 2015
Number of investigations completed  67 ​138 124

 *as of June 30, 2017

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Prosecutions and other actions

Number of prosecutions currently under review: 82

Number of Prosecutions completed

 

 Bar graph showing number of prosecutions completed

 

​Firms 2017* 2016 2015
​Decisions 4 6 12
​Fines
 $410,000 ​$360,000 $1,495,000
Costs
 $37,000 ​$65,000 $97,500
Disgorgement  $0 - -
Total  $447,000 ​$425,000 $1,592,500
Permanent suspension 1 ​- 3
Termination -

2**

-
Cautionary Letter - ​2 1

*as of June 30, 2017

**This figure has been corrected to 2 firm terminations resulting in a total of 6 decisions against firms in 2016.  The last reporting period had incorrectly reported only 1 firm termination in 2016.

 

 

Individuals 2017* 2016 2015
​Decisions 23 40*** 40
​Fines  $1,575,500 ​$2,684,000 $2,283,000
Costs  $318,629 ​$412,000​ $337,500​
Disgorgement  $775,962 ​​$24,084 $331,569
Total  $2,670,091 ​​$3,120,084​ $2,952,069
Suspension  12 20 26
Permanent bar  3 ​6 5
Cautionary Letter  - 7 13
Conditions  16 21​​ 23

*as of June 30, 2017

***The number of decisions has been adjusted downward by two cases due to late filing of appeals.

 

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Statistics Filed by Dealer Firms (COMSET)

ComSet (Complaints and Settlement Reporting System) is a system that enables reporting of client complaints and disciplinary matters by dealer Members to IIROC. With ComSet, staff can identify new and emerging compliance or regulatory issues, as well as patterns and trends in the industry, at the national, regional and firm level that help to direct focus on potential problems, areas that require enhanced compliance review, or events that warrant enforcement action.

 

2017* 2016 2015
Total Number of reports in ComSet 575 1,437​​​​ 1,352

 *as of June 30, 2017

2017* 2016 2015
Civil claim​​ 62 125​ 152
Criminal charge 3 ​2 7
Customer complaint 458 ​1,207 1,076
Denial of registration or approval  - ​- -​
External diciplinary action  2 2 4
Internal diciplinary action  18 41 54
Internal investigation  32 ​60 59

 *as of June 30, 2017

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