The following tables summarize enforcement cases received and handled for the period July 1, 2010 to June 30, 2011 and for the same period in prior years.
(a) Cases Opened
| 2010-2011 |
453 |
79 |
43 |
| 2009-2010 |
506 |
96 |
44 |
| 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
| 2010-2011 |
405 |
54 |
48 |
507 |
| 2009-2010 |
472 |
46 |
30 |
548 |
| 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, 2011
| June 30 |
Case Assessment |
Investigation |
Litigation |
All Groups |
| Atlantic |
13 |
5 |
8 |
26 |
| Central |
95 |
61 |
41 |
197 |
| Prairie |
43 |
24 |
13 |
80 |
| Pacific |
23 |
10 |
13 |
46 |
| Canada |
174 |
100 |
75 |
349 |
(d) Cases in which Discipline Imposed
* Each Case may result in discipline to one or more subjects.
** Cautionary Letters were introduced in July 2009. |
| 2010-2011 |
164 |
66 |
0 |
33 |
| 2009-2010 |
170** |
105 |
1 |
26 |
| 2008-2009 |
0 |
233 |
4 |
32 |
| 2007-2008 |
0 |
206 |
6 |
18 |
| 2006-2007 |
0 |
196 |
18 |
22 |
| 2005-2006 |
0 |
130 |
18 |
10 |
| 2004-2005 |
0 |
114 |
9 |
9 |
| 2003-2004 |
0 |
17 |
0 |
0 |
| 2002-2003 |
0 |
4 |
0 |
0 |
(e) Cases Opened by Type
| * Primary Allegation is as of the report date. |
| Blank Signed Forms |
61 |
13.47% |
| Suitability - Investments |
58 |
12.80% |
| Business Standards |
47 |
10.38% |
| Unauthorized / Discretionary Trading |
41 |
9.05% |
| Suitability - Leveraging |
33 |
7.28% |
| Outside Business Activities / Dual Occupation |
32 |
7.06% |
| Falsification / Misrepresentation |
26 |
5.74% |
| Personal Financial Dealings |
25 |
5.52% |
| Forgery / Fraud / Theft / Misappropriation / Misapplication |
20 |
4.42% |
| Policy & Procedures |
11 |
2.43% |
| Commissions and Fees |
10 |
2.21% |
| Complaint Procedure |
10 |
2.21% |
| Transfer of Accounts |
10 |
2.21% |
| Sales Communication |
8 |
1.77% |
| Conflict of Interest |
7 |
1.55% |
| Provincial Securities Legislation |
6 |
1.32% |
| Supervision |
6 |
1.32% |
| Acting Outside Registration Status |
5 |
1.10% |
| Conduct Unbecoming |
5 |
1.10% |
| Referral Arrangements |
5 |
1.10% |
| Stealth Advising |
5 |
1.10% |
| Trading Outside Jurisdiction |
5 |
1.10% |
| Confidentiality / Privacy |
4 |
0.88% |
| Handling of Funds |
4 |
0.88% |
| Excessive Trading / Churning |
3 |
0.66% |
| Failure to Cooperate |
3 |
0.66% |
| Financial Requirements |
1 |
0.22% |
| Other |
1 |
0.22% |
| Reporting Violations |
1 |
0.22% |
| Total |
453 |
100.00% |
(f) Cases Opened by Source
| METS |
219 |
48.34% |
| Public |
171 |
37.75% |
| CSA and Other Regulators |
31 |
6.84% |
| MFDA Sales Compliance |
17 |
3.75% |
| Other |
8 |
1.77% |
| Member |
3 |
0.66% |
| Financial Industry Participant |
2 |
0.44% |
| MFDA Financial Compliance |
1 |
0.22% |
| Media |
1 |
0.22% |
| Total |
453 |
100.00% |
(g) Cases Closed by Reason
| No Violation Established |
196 |
38.66% |
| Cautionary Letter(s) Sent |
164 |
32.35% |
| Warning Letter(s) Sent |
66 |
13.02% |
| Hearing - Settlement - Violation Established |
25 |
4.93% |
| Referred To Other Enforcement Case |
17 |
3.35% |
| Hearing - Violation Established |
17 |
3.35% |
| Referred - Issues outside MFDA jurisdiction |
12 |
2.37% |
| Discipline/Action Taken by Outside Agency |
4 |
0.79% |
| Under Review by Outside Agency |
3 |
0.59% |
| Member Resolution Satisfactory |
3 |
0.59% |
| Total |
507 |
100.00% |
(h) METS Events Reported
| * Numbers may change as a result of updates made to the system. |
| 2010-2011 |
2444 |
| 2009-2010 |
2533 |
| 2008-2009 |
2970 |
| 2007-2008 |
1963 |
