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.
How IIROC's Enforcement Process works
Unpaid Fines Report
|Individual||Date of Penalty Decision or Settlement Agreement||Amount of Fine, Disgorgement (if any) and/or costs||Province||Amount Paid|
|Beck, Gary||17 July 2012||$38,315||ON||None|
|Beghin, Adriano||27 January 2014||$12,500||ON||Partial|
|Beland, Alain||18 November 2010||$15,000||QC||None|
|Belknap, John Richard||19 May 2020||$185,000.00||ON||Partial|
|Benarroch, Georges||16 February 2011||$300,000||ON||None|
|Bergeron, Andre||3 October 2008||$75,000||QC||None|
|Bergeron, Daniel Claude||26 February 2013||$45,000||QC||None|
|Biduk, Roger Michael||21 August 2013||$150,000||QC||None|
|Blanchard, Shelley||10 April 2013||$5,000||ON||None|
|Blythe, Kindle||25 June 2020||$10,500||BC||None|