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Canadian Securities Regulatory Monitor News and Insight

Tag Archives: disciplinary programs

IIROC Proposes Two New Forms of Disciplinary Action Against Dealer Firms and Approved Individuals

Posted in Enforcement, IIROC, Industry News, Proposals

Recently, the Investment Industry Regulatory Organization of Canada (IIROC) proposed two new disciplinary programs (the Programs) that will be of interest to IIROC Dealer Members and Approved Persons:

  1. A “Minor Contravention Program” (MCP) that would impose fines on dealer firms ($5,000 per contravention) and their approved individuals ($2,500 per contravention) for minor offenses that might not have triggered any substantive legal action by IIROC Staff in the past.
  2. An Early Resolution Offer (ERO) process that would permit IIROC Staff to make formal offers of settlement earlier in the enforcement process, at
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