Date opened: April 25, 2019
Date closed: July 24, 2019
On February 22, 2018, IIROC published a preliminary proposal (Notice 18-0045) requesting comments on two proposed alternative forms of disciplinary action:
- the Minor Contravention Program (MCP), and
- Early Resolution Offers.
We are proposing amendments to IIROC’s Consolidated Enforcement, Examination and Approval Rules (the Consolidated Rules) to adopt the MCP with certain modifications. Specifically, we are proposing amendments to Consolidated Rules 1200, 8200 and 8400 (the Proposed Amendments).
We are also proposing to adopt a Staff Policy Statement on Early Resolution Offers (the Staff Policy Statement).
The Proposed Amendments and the Staff Policy Statement would expand the options available to IIROC Enforcement Staff (Staff) to address wrongdoing in a fair and proportionate manner. The MCP would provide a more efficient means to resolve cases that cannot be adequately addressed by way of a Cautionary Letter but do not warrant formal disciplinary proceeding. The Staff Policy Statement would promote resolving cases efficiently by encouraging settlement agreements at an earlier point in the enforcement process.
Welcome to CIRO.ca!
We have a new look! You can find the Canadian Investment Regulatory Organization (CIRO) at CIRO.ca with our fresh look and feel.
You can now find new publications published by CIRO since January 1, 2023 on CIRO.ca. If you are looking for past notices or bulletins published by MFDA or IIROC, you can find those on our legacy websites. Enforcement related content will continue on those websites as well.
You can now find previous Annual Reports and Enforcement Reports on CIRO.ca, along with Halts and Resumption, and our ePublications sign up (for all previous MFDA and IIROC subscriber lists).
We will continue moving items off MFDA and IIROC in 2023/2024. Stay tuned for future updates.