TORONTO, June 25, 2025 /CNW/ - Today, the Canadian Investment Regulatory Organization (CIRO) released its annual Enforcement Report highlighting the previous year's enforcement activities which include complaint intake, investigations and proceedings against dealers and approved persons who have contravened CIRO regulations.
Enforcement is a key lever in deterring potential harmful conduct and sending strong regulatory messages to the industry. The report aims to bring transparency to CIRO's Enforcement actions by gathering together all CIRO proceedings from the previous year and showcasing the contraventions involved and the sanctions that were imposed.
The report also showcases case highlights and key statistics about the activities of the Enforcement department and the kinds of complaints, investigations and cases CIRO has encountered in the past year. It provides visualization of the trends in regulatory violations, complaint sources, and the pan-Canadian coverage of both investigations and proceedings.
"In the 2025 fiscal year, Enforcement identified and pursued cases with significant deterrent impact and sent a strong regulatory message to the industry about the consequences for violating regulations," said Alexandra Williams, Senior Vice-President, Strategy, Innovation and Stakeholder Protection. "The team continues to harmonize and create efficiencies that will help us tackle financial crimes, wrongdoing and increased complaints and inquiries."
Since its founding, CIRO has been committed to regulatory evolution and harmonization.
Highlights from the 2024-2025 Enforcement Report:
- Reviewed 4,127 complaints received from sources including the public, whistleblowers, ComSet/METS, commissions and other regulators, and internal CIRO departments such as Surveillance, Compliance and Member Registration.
- Conducted 176 investigations with 34% referred for prosecution.
- Completed 57 enforcement proceedings.
- Imposed $10,313,381 in fines, costs and disgorgement.
Significant achievements in the past year also include transforming the event reporting system used by mutual fund dealers to ComSet. Enforcement transitioned to a single document management system and a single case management system, harmonizing legacy interfaces. The team launched a new E-Discovery and Evidence team, increasing the capabilities and resources of the Enforcement department.
SOURCE Canadian Investment Regulatory Organization (CIRO)
Media Contact. Kate Morris, Senior Corporate Communications and Public Affairs Specialist, [email protected] | 416-779-8301
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