The following tables summarize enforcement cases received and handled for the period July 1, 2008 to June 30, 2009 and for the same period in prior years.
(a) Cases Opened
| 2008-2009 |
585 |
100 |
48 |
| 2007-2008 |
381 |
109 |
24 |
| 2006-2007 |
361 |
130 |
32 |
| 2005-2006 |
371 |
117 |
18 |
| 2004-2005 |
441 |
98 |
13 |
| 2003-2004 |
321 |
44 |
1 |
| 2002-2003 |
139 |
8 |
0 |
(b) Cases Closed
| 2008-2009 |
350 |
62 |
16 |
428 |
| 2007-2008 |
246 |
89 |
26 |
361 |
| 2006-2007 |
330 |
83 |
13 |
426 |
| 2005-2006 |
266 |
53 |
12 |
331 |
| 2004-2005 |
290 |
60 |
3 |
353 |
| 2003-2004 |
147 |
9 |
0 |
156 |
| 2002-2003 |
97 |
2 |
0 |
99 |
(c) Active Caseload as of June 30, 2009
| Atlantic |
13 |
10 |
4 |
27 |
| Central |
152 |
55 |
44 |
251 |
| Prairie |
59 |
30 |
10 |
99 |
| Pacific |
41 |
17 |
7 |
65 |
| Canada |
265 |
112 |
65 |
442 |
(d) Disciplinary Action
| *Each Case may result in informal discipline to one or more subjects. |
| 2008-2009 |
233 |
4 |
31 |
| 2007-2008 |
206 |
6 |
19 |
| 2006-2007 |
196 |
17 |
21 |
| 2005-2006 |
130 |
18 |
10 |
| 2004-2005 |
114 |
9 |
9 |
| 2003-2004 |
17 |
0 |
0 |
| 2002-2003 |
4 |
0 |
0 |
(e) Cases Opened by Type
| July 1, 2008 – June 30, 2009 |
Number
of cases |
Percentage of total |
| Suitability - Investments |
89 |
15.21% |
| Suitability - Leveraging |
53 |
9.06% |
| Falsification / Misrepresentation |
51 |
8.72% |
| Unauthorized / Discretionary Trading |
44 |
7.52% |
| Business Standards |
35 |
5.98% |
| Complaint Procedure |
31 |
5.30% |
| Supervision |
27 |
4.62% |
| Outside Business Activities / Dual Occupation |
25 |
4.27% |
| Transfer of Accounts |
25 |
4.27% |
| Forgery / Fraud / Theft / Misappropriation / Misapplication |
22 |
3.76% |
| Books / Records / Client Reporting |
22 |
3.76% |
| Commissions and Fees |
17 |
2.91% |
| Personal Financial Dealings |
17 |
2.91% |
| Provincial Securities Legislation |
15 |
2.56% |
| Policy & Procedures |
15 |
2.56% |
| Sales Communication |
14 |
2.39% |
| Acting Outside Registration Status |
11 |
1.88% |
| Excessive Trading / Churning |
9 |
1.54% |
| Reporting Violations |
9 |
1.54% |
| Trading Outside Jurisdiction |
8 |
1.37% |
| Service Issue |
8 |
1.37% |
| Conduct Unbecoming |
7 |
1.20% |
| Conflict of Interest |
5 |
0.85% |
| Financial Requirements |
5 |
0.85% |
| Securities Regulator's Order |
4 |
0.68% |
| Failure to Cooperate |
4 |
0.68% |
| Confidentiality / Privacy |
4 |
0.68% |
| Handling of Funds |
3 |
0.51% |
| Disclosure |
2 |
0.34% |
| KYC Documentation Deficiency |
2 |
0.34% |
| Referral Arrangements |
1 |
0.17% |
| Money Laundering |
1 |
0.17% |
| Total |
585 |
100.00% |
(f) Cases Opened by Source
| July 1, 2008 – June 30, 2009 |
Number of cases |
Percentage of total |
| Public |
271 |
46.32% |
| METS |
203 |
34.70% |
| CSA and Other Regulators |
56 |
9.57% |
| MFDA Sales Compliance |
29 |
4.96% |
| Member |
16 |
2.74% |
| Other |
3 |
0.51% |
| MFDA Financial Compliance |
3 |
0.51% |
| Media |
3 |
0.51% |
| Financial Industry Participant |
1 |
0.17% |
| Total |
585 |
100.00% |
(g) Cases Closed by Reason
| July 1, 2008 – June 30, 2009 |
Number of cases |
Percentage of total |
| Warning / Cautionary Letter(s) Sent |
233 |
54.44% |
| No Violation Established |
140 |
32.71% |
| Referred To Other Enforcement Case |
21 |
4.91% |
| Referred - Issues outside MFDA jurisdiction |
13 |
3.04% |
| Hearing - Violation Established |
9 |
2.10% |
| Agreement and Undertaking |
4 |
0.93% |
| Hearing - Settlement - Violation Established |
4 |
0.93% |
| Under Review by Outside Agency |
2 |
0.47% |
| Amalgamated with other file |
1 |
0.23% |
| Referred - Other |
1 |
0.23% |
| Total |
428 |
100.00% |
