Canada – IIROC Worldsource Conflicts

On Jan. 7, C-IIROC fined Worldsource C$200k for fee conflict.

Alleged Violations

  • From 2010-17, firm failed to establish and maintain system of internal controls.
    or supervision that is reasonably designed to achieve compliance of IIROC rules.
  • To deal fairly with clients on fees, contrary to Dealer Member Rules 38.1, 2500.
  • Failed to take steps to identify or address existing and potential material conflict.


  • Worldsource Securities Inc. has agreed to pay a fine, in the amount of $100,000.
  • $50,000 is with respect to fees, and $50,000 with respect to conflicts of interest.
  • Worldsource Securities Inc. also agreed to pay costs, with the amount of $5,000.