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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: 180
Number of case assessments files currently under review: 86

Case Assessment files opened by Source

​Source 2017* 2016​ ​ 2015
Public 18 198 209
ComSet  11 202 166
Internal  4 32 43
Other SROs and Commissions  3 20 11
Other  - 2 2

*as of January 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 4 ​56 73
Unsuitable investments 12 169 142
Misrepresentation 1 30 12
Service issues - 1 1
Other  19 ​198 203

*as of January 31, 2017 

 

 

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Investigations

Number of investigations currently under review: 156

Number of Investigations completed

Bar graph showing number of investigations completed

2017* 2016 2015
Number of investigations completed  4 ​138 124
*as of January 31, 2017

 

1Completed Investigations for the period now includes Investigations that have been promoted to Prosecutions or have been closed and joined to an existing Investigation. In prior statistical reporting for 2015, only completed investigations resulting in no action were included.

  

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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 1 6 12
​Fines
 $0 ​$360,000 $1,495,000
Costs
 $0 ​$65,000 $97,500
Disgorgement  $0 - -
Total  $0 ​$425,000 $1,592,500
Permanent suspension 1 ​- 3
Termination - 2** -
Cautionary Letter - ​2 1

*as of January 31, 2017

**his 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  2 42 40
​Fines  $100,000 ​$3,084,000 $2,283,000
Costs  $15,000 ​$522,000​ $337,500​
Disgorgement  $29,500 ​​$24,084 $331,569
Total  $144,500 ​​$3,630,084​ $2,952,069
Suspension  2 22 26
Permanent bar  - ​6 5
Cautionary Letter  - 7 13
Conditions  2 22​​ 23
*as of January 31, 2017

 

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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 71 1,437​​​​ 1,352
*as of January 31, 2017

 

2017* 2016 2015
Civil claim​​ 12 125​ 152
Criminal charge - ​2 7
Customer complaint 53 ​1,207 1,076
Denial of registration or approval  - ​- -​
External diciplinary action  1 2 4
Internal diciplinary action  4 41 54
Internal investigation  1 ​60 59
*as of January 31, 2017​

 

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