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|
|Bond, Garry Walter||20 June 2017||$22,000||ON||Partial|
|Bortolin, Sandy Joseph||13 March 2012||$600,000||ON||None|
|Boswell, Robert William||24 November 2008||$125,000||AB||Partial|
|Brodie, John Edward||5 July 2013||$80,000||NS||None|
|Brum, Paul||7 October 2020||$10,000||BC||None|
|Buskell, John D.W.||25 June 2008||$81,836||AB||None|
|Chang, Lawrence Bradley||20 January 2014||$107,500||BC||None|
|Chang, Lawrence Bradley||10 November 2009||$32,000||BC||None|
|Chung, Darin||19 November 2015||$45,000||BC||None|
|Clarke, Gary||19 January 2016||$32,500||BC||None|