Contact:
On February 22, 2018, IIROC published a preliminary proposal (Notice 18-0045) requesting comments on two alternative forms of disciplinary action:
On April 25, 2019, in Notice 19-0076, we proposed:
The objective of the Proposed Amendments and the Staff Policy Statement was to expand the options available to IIROC Enforcement Staff (Staff) to address wrongdoing in a fair, proportionate and efficient manner.
Specifically, the MCP would provide a more efficient means to resolve cases that could not be adequately addressed by way of a Cautionary Letter but did not warrant formal disciplinary proceedings.
However, public commenters expressed concerns that:
In order to fully consider and address these concerns, we decided to withdraw the Proposed Amendments at this time, and proceed with the adoption of Staff’s Policy Statement on Early Resolution Offers.
We will consider revisions or alternatives to the MCP and may make a further proposal for public comment. In Notice 21-0058, we are publishing the Staff Policy Statement on Early Resolution Offers in final form.
Withdrawal
IIROC has informed the Canadian Securities Administrators that it has withdrawn the Proposed Amendments.
Questions may be referred to:
Charles Corlett
Vice-President, Enforcement
Investment Industry Regulatory Organization of Canada
Suite 2000, 121 King Street West
Toronto, ON M5H 3T9
[email protected]
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:
Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on www.mfda.ca and www.iiroc.ca.