Sanctions Reporting

Sanctions Reporting System

IIROC provides resources to help Dealer Member firms fulfill their requirements to report under certain Canadian Sanctions reporting regulations, specifically section 83.11 of the Criminal Code and section 7(1) of the Justice for Victims of Corrupt Foreign Officials Act.

Effective June 30, 2021, the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law) no longer requires monthly “Nil” reporting and only requires reports where an entity determines that it is in possession of property of a Designated Person. Positive reports for section 7(1) reporting should be filed in the initial month of identification, and then once every three months after that. Monthly Nil reports are still required for section 83.11 reporting.

How to report

  • Check your accounts against the Federal Provision lists below.
  • By the 15th day of the month, log in to the "Sanctions" Reporting System via IIROC Services.
  • Use the Nil Form if you have verified that you have no accounts to declare for section 83.11 reporting. Use the Positive Form if you have accounts to declare for either section 83.11 or section 7(1) reporting.

If you need information or help with any of these procedures, please email [email protected].

Federal Provisions

MFDA and IIROC have consolidated

As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

We have set up an interim website for updates and information related to the New SRO including:

  • Executive Management
  • Governance
  • New SRO Rules
  • Member Application
  • Investor Office and the Investor Advisory Panel
  • Information concerning mutual fund dealers registered in Québec
  • Complaints
  • Careers

Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on and