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|
|Clarke, Jeremie Steven||7 July 2011||$18,000||QC||Partial|
|Cohen, Idan||22 February 2012||$91,666||ON||Partial|
|Cohen, Jamie||23 February 2012||$91,666||ON||Partial|
|Cole, Henry||3 February 2012||$5,030,022||ON||Partial|
|Collias, John Anastasious||31 August 2009||$10,000||BC||None|
|Collias, John Anastasious||5 July 2010||$25,000||BC||None|
|Connacher, David||10 May 2011||$571,316||ON||Partial|
|Connor, Robert||18 November 2015||$40,000||ON||None|
|Cooney, Patrick||28 January 2011||$100,000||MB||None|
|Crandall, Robert Adrian||3 October 2016||$185,000||NB||None|