For Self-Represented Parties

Respondents subject to Enforcement or Regulatory proceedings may choose to be represented by a lawyer, a paralegal or agent, where permitted by law.

Individual Respondents may also represent themselves and appear before Hearing Panels without a lawyer, i.e., self-represent. This right comes with a responsibility to learn about the processes, the rules and the law that relate to your case.

Resources for Finding a Lawyer

You may be able find legal resources and representation by contacting the following organizations in your region:

If you choose to represent yourself, please review our Guide to Hearings and consult other resources on the hearing process.

    It is important to timely serve and file a Response to the allegations against you. If you fail to provide a Response, a Hearing Panel may proceed with the hearing as set out in the Notice of Hearing, accept as proven the facts and contraventions set out in the Statement of Allegations and order significant sanctions and costs against you.

    If you choose not to attend your hearing, Enforcement Staff may ask the Hearing Panel to proceed with the hearing even if you are not there.

    You may attend your hearing and call witnesses in-person or electronically (via Webex). You may request a demo session to prepare for a virtual or hybrid hearing by emailing the NHO at [email protected].

    Prior to your hearing, you will receive documents from Enforcement Staff, commonly referred to as "disclosure". It is essential that you review that disclosure before the hearing and also disclose any other documents you intend to rely on in your defence. A party who does not disclose a document in compliance with Rules 8417 (3) and (4) may not introduce in evidence or refer to the document at a hearing without leave of the Hearing Panel.

    To present evidence at a hearing, you may choose to call witnesses (including yourself).

    If you choose to call a witness, you will need to provide their name along with a summary of what the witness will say at the hearing. Copies of the witness list and statements must be sent to Enforcement Staff and the NHO ([email protected]) in advance of the hearing.

    You can make submissions in your defence at the hearing. Sometimes, submissions may be made in writing instead or in addition to verbal submissions at the hearing. Submissions are arguments in response to the allegations made against you, supported by the evidence and the applicable law. As a Respondent, you will be delivering your submissions after Enforcement Staff, who may deliver a reply after you conclude your submissions.

    Rule 8423 sets out the order in which a hearing must be conducted. Generally, the order is:

    1. Enforcement Staff make an opening address
    2. The Respondent may choose to make an opening address right away or choose to wait until #5 below
    3. Enforcement Staff present their evidence and examine their witnesses
    4. The Respondent may cross-examine each of Enforcement Staff’s witnesses
    5. The Respondent may choose to make an opening address at this time
    6. The Respondent presents their evidence and examines their witnesses
    7. Enforcement Staff may cross-examine each of the Respondent’s witnesses
    8. Enforcement Staff may present evidence in reply
    9. If the Hearing Panel permits, the parties may serve and file submissions in writing on facts and legal argument
    10. Enforcement Staff may make closing submissions
    11. The Respondent may make closing submissions
    12. Enforcement Staff may reply to any new issues raised by the Respondent.

    You may discuss settlement with Enforcement Staff at any time. Your discussions with Enforcement Staff are private and without prejudice. You may receive lesser sanctions and will avoid the costs and inconvenience of a hearing. A settlement will require you to admit to a contravention of IIROC Rules and agree to a sanction. To be effective and binding, the settlement agreement will also have to be accepted by a Hearing Panel.

    All documents used during a hearing must be uploaded to Case Center prior to the hearing (in addition to serving Enforcement Staff and filing the documents with the NHO). You can then use Case Center to present documents or make submissions during the hearing. In preparation for your hearing, you may request a demo for Case Center and/or Webex, which will be used for an electronic or hybrid hearing, with the NHO at [email protected].

    Hearing Panel decisions can be reviewed by the relevant provincial securities authorities.

    Generally, there is a 30-day time limit from the date of the decision for either party to initiate a review.

    MFDA and IIROC have consolidated

    As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

    New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

    We have set up an interim website for updates and information related to the New SRO including:

    • Executive Management
    • Governance
    • New SRO Rules
    • Member Application
    • Investor Office and the Investor Advisory Panel
    • Information concerning mutual fund dealers registered in Québec
    • Complaints
    • Careers

    Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on www.mfda.ca and www.iiroc.ca.