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.

To find out more on how to do a background check go to the “Choose an advisor” section or the “Investigate before you invest” section of InvestRight.

 

Suggested Reading

Robo-advising: What Investors Need to Know

BC Securities Enforcement Roundup – December 2013

Tis the season to be wary

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