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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 this information to identify potential emerging regulatory issues in the industry it regulates.

Dated as of March 31, 2021

Case Assessment

Number of Case Assessment files currently open: 67

Case assessment files opened by source

as at
March 31, 2021
​2020
​2019 ​
​Public​ 43
244
184
ComSet
29
93
98
Internal 8
21 21
Other SROs and Commissions
3
 17
15
Other 3
9
7
Total
86
384
325

  
Bar graph showing case assessment files opened by source

Most common regulatory allegations based on 86 files and 201 allegations.


Bar graph showing case assessment - by allegations

Note: each file may contain more than one allegation.


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Investigations

Number of investigations currently open: 95

Number of investigations completed:

as at
March 31, 2021
​ 2020
​2019 ​
21
119
​104

 

Bar graph showing number of investigations completed

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Prosecutions

Number of prosecutions currently open: 42

Number of Prosecutions completed:

Number of Prosecutions completed — A prosecution is considered completed where there is a final decision by an IIROC hearing panel, securities commission or court including any sanctions ordered.  Any decisions under appeal are not included.

as at
March 31, 2021
​ 2020
​2019​ ​
3
32
​36



Bar graph showing number of prosecutions completed

 

Sanctions Imposed on Firms

as at
 March 31, 2021
​ 2020
​2019
​Decisions 0
10
8
​Fines
$0
$5,210,000.00
$1,775,000.00
Costs $0
$138,497.00
$60,000.00
Disgorgement $0
$16,242.00
$0.00
Total $0
$5,364,739.00
$1,835,000.00
Permanent suspension 0
1 1
Termination 0
2
1
Cautionary letter* 0 0
1


Sanctions Imposed on Individuals

as at
 March 31, 2021
​2020
​2019
​Decisions 3
22
28
​Fines $100,000.00
 $781,500.00 $1,595,000.00
Costs​  $14,500.00
 $122,500.00 $249,000.00
Disgorgement  $0.00
  $33,401.00 $135,071.00
Total  $114,500.00
 $937,401.00 ​​$1,979,071.00
Suspension 2
 15
14
Permanent bar 0
 1
3
​Cautionary letter* 0
 6
9
Conditions 2
  13
22​​

 

*issued at the prosecution stage only. Cautionary Letters issued at the Case Assessment or Investigation stage are not included.


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Statistics Filed by Dealer Firms (COMSET)

IIROC rules require Dealer Members to inform IIROC, using IIROC’s Complaints and Settlement Reporting System (ComSet), when certain events occur, including when a Dealer Member receives a written client complaint, when criminal charges are laid against a Dealer Member or any of its individual registrants, or when a securities-related civil claim is brought by a client.

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. All ComSet events are reviewed by Case Assessment staff to determine whether the opening of a Case Assessment file is warranted.

March 31, 2021 ​2020
​2019
​2018
​Number of reports in ComSet​​ 297
1353
1107
1089
Number of events reported​​  
   ​Civil claim​​ 40
97
91
129​
   ​Criminal charge 1
2
4
1
   ​Customer complaint 228
1173
921
866
   ​Denial of registration or approval​ 0 0 0
0
   ​External disciplinary action​ 1
0
3
4
   ​Internal disciplinary action​ 16
34
31
27
   ​Internal investigation​ 11
 47  57
 62


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