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.

Below you will find Enforcement Statistics. If you are looking for Complaints and Inquiries Statistics, please visit our Complaints and Inquiries Statistics page.

Dated as of June 30, 2022


Case Assessment

Number of Case Assessment files currently open: 75

Case assessment files opened by source:

June 30, 2022 ​2021 ​2020
​Public​ 81 118 244
ComSet 66 114 93
Internal 21 23 21
Other SROs and Commissions 9  17 17
Other 9 7 9
Total 186 279 384
Case Assessment Bar Graph as at June 30, 2022

 

Most common regulatory allegations based on 186 files and 394 allegations.

Case Assessment bar graph - by allegations - June 2022 (Unsuitable investments 41, Unauthorized and discretionary trading 44, Complaint Handling 25, Misrepresentation 15, Supervision 19, Conflict of interest 14 , Other types of allegation 236)

Note: each file may contain more than one allegation.

back to top


Investigations

Number of investigations currently open: 109

Number of investigations completed:

as at
June 30, 2022
​2021 ​2020
36 76 ​119
Investigations Bar Graph as at June 30, 2022

back to top


Enforcement Proceedings

Current proceedings: 10

Proceedings Completed:

as at
June 30, 2022
​2021 ​2020
20 25 ​32
Prosecutions Bar Graph as at June 30, 2022

*A proceeding is completed when there is a final decision by an IIROC hearing panel, securities commission, or court. Any decisions under appeal are not included.

Current Appeals of IIROC hearing panel decisions: 3

Sanctions Imposed on Firms

  as at
June 30, 2022
​2021 ​2020
​Decisions 4 5 10

​Fines

$373,000.00 $997,500.00 $5,210,000.00
Costs $40,000.00 $130,000.00 $138,497.00
Disgorgement $0 $0 $16,242.00
Total $413,000.00 $1,127,500.00 $5,364,739.00
Permanent suspension 1 0 1
Termination 1 1 2
Cautionary letter* 0 0 0


Sanctions Imposed on Individuals

  as at
June 30, 2022
​2021 ​2020
​Decisions 16 20 22
​Fines $6,638,020.65 $938,000.00 $781,500.00
Costs​ $509,022.14 $295,000.00 $122,500.00
Disgorgement $149,525.59   $183,732.72 $33,401.00
Total $7,296,568.38 $1,416,732.72 ​​$937,401.00
Suspension 9  12 15
Permanent bar 4 2 1
​Cautionary letter* 0 0 6
Conditions 7 9 13


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

back to top


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.

June 30, 2022 ​2021 ​2020 ​2019
​Number of reports in ComSet​​ 687 1049 1353 1107
Number of events reported​​        
   ​Civil claim​​ 55 112 97 91​
   ​Criminal charge 1 3 2 4
   ​Customer complaint 566 823 1173 921
   ​Denial of registration or approval​ 0 0 0 0
   ​External disciplinary action​ 0 1 0 3
   ​Internal disciplinary action​ 28 64 34 31
   ​Internal investigation​ 37 46  47 57


back to top