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ARTICLE · 18 MAY 2018

IIROC Making Fine Progress In Monetary Collection Efforts

Blake, Cassels & Graydon LLP
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The IIROC recently released its Annual Enforcement Report, which highlights IIROC's efforts to increase its rate of collection on monetary fines, including through increased legal authority...

CanadaCorporate/Commercial Law
Sean Boyle
Sean Boyle
Doug McLeod
Doug McLeod
Alexandra Luchenko
Alexandra Luchenko
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The Investment Industry Regulatory Organization of Canada (IIROC) recently released its Annual Enforcement Report (Report), which highlights IIROC's efforts to increase its rate of collection on monetary fines, including through increased legal authority to collect unpaid fines through the provincial court systems.

INCREASED LEGAL AUTHORITY

As detailed in the Report, since January 2017, IIROC has been granted enhanced enforcement capabilities in five provinces (British Columbia, Manitoba, Alberta, Ontario and PEI) through various amendments to the provincial securities acts. Increasing enforcement capabilities has been a key priority for IIROC, as discussed in our June 2017 Blakes Bulletin: Investment Industry Regulatory Organization of Canada Sets Priorities for 2018. While the precise enhancements differ amongst the provinces, the enhancements generally grant IIROC the power to collect disciplinary fines through the courts.

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