Statistics

IIROC maintains statistics on the complaints it receives and the investigations and prosecutions it conducts. It also tracks disciplinary statistics for those complaints and matters that regulated firms are required to file to IIROC through the Complaints and Settlement Reporting System (ComSet). IIROC monitors this information to identify potential emerging regulatory issues in the industry it regulates.

Dated as of June 30, 2021


Case Assessment

Number of Case Assessment files currently open: 53

Case assessment files opened by source

as at
June 30, 2021
​2020 ​2019 ​
​Public​ 71 244 184
ComSet 51 93 98
Internal 14 21 21
Other SROs and Commissions 8  17 15
Other 5 9 7
Total 149 384 325

  

Bar graph showing case assessment files opened by source

Most common regulatory allegations based on 148 files and 328 allegations.

Bar graph showing case assessment - by allegations

 

Note: each file may contain more than one allegation.

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Investigations

Number of investigations currently open: 115

Number of investigations completed:

as at
June 30, 2021
​ 2020 ​2019 ​
27 119 ​104
Bar graph showing number of investigations completed

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Prosecutions

Number of prosecutions currently open: 40

Number of Prosecutions completed:

Number of Prosecutions completed — A prosecution is considered completed where there is a final decision by an IIROC hearing panel, securities commission or court including any sanctions ordered. Any decisions under appeal are not included.

as at
June 30, 2021
​ 2020 ​2019​ ​
7 32 ​36
Bar graph showing number of prosecutions completed

A prosecution is considered completed where there is a final decision by an IIROC hearing panel, securities commission or court including any sanctions ordered.  Any decisions under appeal are not included.

Sanctions Imposed on Firms

  as at
June 30, 2021
​ 2020 ​2019
​Decisions 0 10 8

​Fines

$0 $5,210,000.00 $1,775,000.00
Costs $0 $138,497.00 $60,000.00
Disgorgement $0 $16,242.00 $0.00
Total $0 $5,364,739.00 $1,835,000.00
Permanent suspension 0 1 1
Termination 0 2 1
Cautionary letter* 0 0 1


Sanctions Imposed on Individuals

  as at
June 30, 2021
​2020 ​2019
​Decisions 7 22 28
​Fines $220,000.00  $781,500.00 $1,595,000.00
Costs​  $29,500.00  $122,500.00 $249,000.00
Disgorgement  $70,450.00   $33,401.00 $135,071.00
Total  $319,950.00  $937,401.00 ​​$1,979,071.00
Suspension 4  15 14
Permanent bar 1  1 3
​Cautionary letter* 0  6 9
Conditions 4   13 22​​

 

*issued at the prosecution stage only. Cautionary Letters issued at the Case Assessment or Investigation stage are not included.

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Statistics Filed by Dealer Firms (COMSET)

IIROC rules require Dealer Members to inform IIROC, using IIROC’s Complaints and Settlement Reporting System (ComSet), when certain events occur, including when a Dealer Member receives a written client complaint, when criminal charges are laid against a Dealer Member or any of its individual registrants, or when a securities-related civil claim is brought by a client.

With ComSet, staff can identify new and emerging compliance or regulatory issues, as well as patterns and trends in the industry, at the national, regional and firm level that help to direct focus on potential problems, areas that require enhanced compliance review, or events that warrant enforcement action. All ComSet events are reviewed by Case Assessment staff to determine whether the opening of a Case Assessment file is warranted.

June 30, 2021 ​2020 ​2019 ​2018
​Number of reports in ComSet​​ 607 1353 1107 1089
Number of events reported​​        
   ​Civil claim​​ 72 97 91 129​
   ​Criminal charge 2 2 4 1
   ​Customer complaint 471 1173 921 866
   ​Denial of registration or approval​ 0 0 0 0
   ​External disciplinary action​ 1 0 3 4
   ​Internal disciplinary action​ 37 34 31 27
   ​Internal investigation​ 24  47  57  62


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