The Investment Industry Regulatory Organization of Canada (IIROC) has published its annual enforcement report. While the regulator collected most of the fines it levied against firms, it had difficulty collecting money from individuals.
IIROC’s report reveals that it imposed total sanctions of $1.59 million against firms and $2.95 million against individuals in 2015. About half of the prosecutions against individuals were for violations of suitability guidelines, and the regulator says the majority of these suitability cases involved elderly or vulnerable clients.
ANDREW RICKARD – Insurance Journal – April 04, 2016.
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