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 September 30, 2021


Case Assessment

Number of Case Assessment files currently open: 56

Case assessment files opened by source

as at
September 30, 2021
​2020 ​2019 ​
​Public​ 99 244 184
ComSet 80 93 98
Internal 17 21 21
Other SROs and Commissions 11  17 15
Other 5 9 7
Total 212 384 325

  

Bar graph showing case assessment files opened by source

 

Most common regulatory allegations based on 212 files and 475 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: 107

Number of investigations completed:

as at
September 30, 2021
​ 2020 ​2019 ​
48 119 ​104
Bar graph showing number of investigations completed

 

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Enforcement Proceedings

Current proceedings: 16

Proceedings Completed:

as at
September 30, 2021
​ 2020 ​2019​ ​
15 32 ​36

 

Bar graph showing number of prosecutions completed

 

*A proceeding is completed when there is a final decision by an IIROC hearing panel, securities commission, or court. Any decisions under appeal are not included.

Current Appeals of IIROC hearing panel decisions: 5

Sanctions Imposed on Firms

  as at
September 30, 2021
​ 2020 ​2019
​Decisions 2 10 8

​Fines

$700,000.00 $5,210,000.00 $1,775,000.00
Costs $75,000.00 $138,497.00 $60,000.00
Disgorgement $0 $16,242.00 $0.00
Total $775,000.00 $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
September 30, 2021
​2020 ​2019
​Decisions 13 22 28
​Fines $467,000.00  $781,500.00 $1,595,000.00
Costs​  $167,500.00  $122,500.00 $249,000.00
Disgorgement  $71,561.72   $33,401.00 $135,071.00
Total  $706,061.72  $937,401.00 ​​$1,979,071.00
Suspension 9  15 14
Permanent bar 1  1 3
​Cautionary letter* 0  6 9
Conditions 5   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.

September 30, 2021 ​2020 ​2019 ​2018
​Number of reports in ComSet​​ 783 1353 1107 1089
Number of events reported​​        
   ​Civil claim​​ 89 97 91 129​
   ​Criminal charge 2 2 4 1
   ​Customer complaint 605 1173 921 866
   ​Denial of registration or approval​ 0 0 0 0
   ​External disciplinary action​ 1 0 3 4
   ​Internal disciplinary action​ 53 34 31 27
   ​Internal investigation​ 33  47  57  62


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