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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: 178
Number of case assessments files currently under review: 93

Case Assessment files opened by Source

​Source 2017* 2016​ ​ 2015
Public 133 198 209
ComSet  112 202 166
Internal  29 32 43
Other SROs and Commissions  10 20 11
Other  1 2 2

*as of August 31, 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 35 ​56 73
Unsuitable investments 78 169 142
Misrepresentation 9 30 12
Service issues - 1 1
Other  163 ​198 203

 *as of August 31, 2017

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Investigations

Number of investigations currently under review: 123

Number of Investigations completed

Bar graph showing number of investigations completed

2017* 2016 2015
Number of investigations completed  98 ​138 124

 *as of August 31, 2017

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Prosecutions and other actions

Number of prosecutions currently under review: 88

Number of Prosecutions completed

 

 Bar graph showing number of prosecutions completed

 

​Firms 2017* 2016 2015
​Decisions 7 6 12
​Fines
 $830,000 ​$360,000 $1,495,000
Costs
 $78,500 ​$65,000 $97,500
Disgorgement  $100,000 - -
Total  $1,008,500 ​$425,000 $1,592,500
Permanent suspension 1 ​- 3
Termination -

2**

-
Cautionary Letter - ​2 1

*as of August 31, 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 29 40*** 40
​Fines  $1,700,500 ​$2,684,000 $2,283,000
Costs  $329,129 ​$412,000​ $337,500​
Disgorgement  $775,962 ​​$24,084 $331,569
Total  $2,805,591 ​​$3,120,084​ $2,952,069
Suspension  14 20 26
Permanent bar  3 ​6 5
Cautionary Letter  1 7 13
Conditions  18 21​​ 23

*as of August 31, 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 766 1,437​​​​ 1,352

 *as of August 31, 2017

2017* 2016 2015
Civil claim​​ 83 125​ 152
Criminal charge 3 ​2 7
Customer complaint 621 ​1,207 1,076
Denial of registration or approval  - ​- -​
External disciplinary action  2 2 4
Internal disciplinary action  22 41 54
Internal investigation  35 ​60 59

 *as of August 31, 2017

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