On May 4, IIROC issued report on 2017 enforcement, and suitability.
- Highlighted actions taken and progress in enforcement in six provinces of Canada.
- Since Jan. 2017, IIROC gained additional legal authority for enforcement actions.
- Half of enforcement matters on suitability included seniors, new laws improved it.
Sanction Statistics
- Focus remained on suitability, 45% of prosecutions, seniors 40% of all cases, 30%
of prosecutions, in 2017 received 1,163 complaints, conducted 127 investigations. - Increased by 25%, cases against firms senior compliance personnel, fines doubles.
- Sanctions imposed on individuals, raised to $3.4 mn, up from $3.1 million in 2016.
- Collaboration among provinces key, with other regulators, to uncover wrongdoing.
