Canadian securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC), and the Mutual Fund Dealers Association (MFDA) today announced the launch of an expanded Canadian Disciplined Persons List. We have answered some questions you may have about the list below.
When should I use the list?
- You should use the list as a part of a comprehensive background check when you are choosing an advisor.
- You should also use it to check the background of anyone who is trying to sell you an investment.
Where can you find the list?
- You can find it linked from InvestRight and the British Columbia Securities Commission’s corporate website.
- It is available on the Canadian Securities Administrators’ (CSA) website in the enforcement section.
- The MFDA, IIROC, and other provincial securities regulators offer direct links from their own websites.
What is on the expanded disciplined persons list?
- All persons disciplined in BC since 1987, including persons whose sanctions have now expired.
- Individuals who have been subject to sanctions, no matter how serious, imposed by any provincial securities regulator, IIROC or the MFDA.
- Names of persons IIROC and the MFDA have disciplined, dating back to 2004.
- Links to supporting records and orders.
What is the purpose of the list? The expanded Disciplined Persons List complements disciplinary databases made available by Canada’s various regulators, which detail cases involving firms and ongoing hearings.
October 17, 2006 What type of advertisements should I be concerned about? Of main concern are paid advertisements placed by those who may not be properly registered to trade in securities. As well, certain ads may provide misleading information to the public regarding potential investments. These may appear across various types of media, including newspapers, […]