The Investment Industry Regulatory Organization of Canada now has the ability to enforce, through the courts, its fines against individuals that engage in misconduct in Manitoba.

Amendments to Manitoba’s Securities Act and Commodity Futures Act, which received Royal Assent, “provide IIROC with the legal authority to more effectively and consistently enforce its rules and discipline those who break them,” announced the regulator this week.

A powerful message to rule breakers

"We thank Finance Minister Cameron Friesen, the Government of Manitoba, all Members of the Legislature and the MSC for improving investor protection – particularly for seniors who represent the largest number of complaints we receive," says IIROC President and CEO, Andrew J. Kriegler. "This is a powerfully clear message the Government is sending to rule breakers: if you abuse client trust, you will face repercussions."

The province is among six provinces where IIROC now has enhanced fine collection authority.