The Investment Industry Regulatory Organization of Canada (IIROC) has released its 2017 Enforcement Report (highlights here), indicating that total investigations were down from 2016 but total monetary sanctions were up slightly.
The highlights from the report are:
- 127 completed investigations (down from 138 in 2016)
- 44 completed prosecutions (down from 46 in 2016)
- $3.4 million in total fines, costs and disgorgements (up from $3.1 million in 2016)
- 5 permanent bans and 16 suspensions (down from 6 and 20 in 2016)
- New statutory collection powers have increased collection rates for monetary sanctions in Ontario
- Suitability issues accounted for 45 per cent of all prosecutions, and 30 per cent of all prosecutions concerned senior clients