In 2014, IIROC began publishing the Unpaid Fines Report which lists advisors and individuals employed at IIROC-regulated firms who have failed to pay fines, disgorgement, and/or costs imposed as a result of enforcement proceedings before an IIROC Hearing Panel. Penalties are imposed upon disciplined individuals either:
- following a contested hearing; or
- by approval of a settlement agreement.
The report is intended to serve as an information tool to improve transparency. The report is not meant to be a list of individuals currently indebted to IIROC. Accordingly, the report may include the names of individuals who received a bankruptcy discharge subsequent to the order being made.
About the report
The Unpaid Fines Report:
- Lists individuals who were disciplined by IIROC ("disciplined individuals") as early as June 1, 2008, when IIROC was created.
- Includes disciplined individuals who have not paid the amounts imposed on them.
- Does not include matters where a disciplined individual has appealed or sought a review of a decision made by an IIROC Hearing Panel.
Unpaid Fines Report
|Individual||Date of Penalty Decision or Settlement Agreement||Amount of Fine, Disgorgement (if any) and/or costs||Province||Amount Paid|
|Ahn, Harold Hee||24 May 2011||$1,057,000||None|
|Ahrens, Robert Justin||29 September 2014||$20,000||None|
|Armstrong, Norman||5 October 2015||$103,978||None|
|Austin, Jeremy Nicholas Drew||24 January 2017||$280,000||None|
|Ballanger, Michael||6 June 2018||$15,000||None|
|Barkwell, Richard||11 December 2018||$10,000||None|
|Bateman, Scott||28 May 2014||$22,000||None|
|Bazilinsky, Michael||2 March 2018||$37,000.00||Partial|
|Beaulne, Benoit||31 October 2012||$41,491||None|
|Becher, Robert Campbell||2 June 2014||$25,000||Partial|