IIROC has published its three-year Strategic Plan, detailing how it plans to protect investors and support healthy capital markets while addressing the many changes affecting the investment industry and Canadian investors.
Watchdogs focus on suitability, complex products and supervision.
01 IIROC’s 2015 enforcement report IIROC enforcement in 2015 saw an increase in sanctions but a drop in the SRO’s fine collection rate. IIROC levied more than $4.5 million against firms and individuals, compared to $3.67 million in 2014, and collected 84% of fines against firms and 13.2% against individuals, compared to 100% and 19.8%, […]
On March 29, 2016, an IIROC hearing panel accepted a settlement agreement, with sanctions, between IIROC staff and Allen Samuel Mendelman.
IFIC has raised objections to an IIROC proposal that would change the face of the industry.
When advisors are fined by regulators but can’t pay, their firms aren’t responsible for picking up the tab. Philip Anisman, a Toronto-based securities lawyer, confirms this. “If an advisor violates securities laws and is sanctioned by the Commission, his employing firm should not be indemnifying him. That diminishes the sanction.” Also, firms aren’t typically responsible […]
CSA wants enhancements to firms' and advisors' obligations towards clients, and IIROC is on board.
IIROC has published its annual Enforcement Report. Total sanctions it imposed in 2015 increased year over year, while the fine collection rate fell.
IIROC and FSCO have signed an information-sharing agreement aimed at providing more effective regulation and strengthening consumer protection in Ontario.
01 IIROC ups ante on collecting fines IIROC has a poor record of collecting fines from individuals, but that could soon change. In remarks made to the Ontario Standing Committee on Finance and Economic Affairs in early February, IIROC president and CEO Andrew Kriegler made his case for new enforcement powers in Ontario. “We are […]