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. Reports should be filed without delay to the Principal Regulator, and once every three months after that.

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. Use the Positive Form if you have accounts to declare.

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

Federal Provisions