The following tables summarize enforcement cases received and handled for the period January 1 to December 31.
(a) Cases Opened (Click on table to reveal quarterly statistics)
Year | Total Cases Opened | Escalated to Investigation | Escalated to Litigation Group |
---|---|---|---|
2022 | 378 | 104 | 60 |
2021 | 414 | 97 | 76 |
2020 | 461 | 142 | 97 |
2019 | 453 | 145 | 87 |
2018 | 458 | 127 | 90 |
2017 | 469 | 217 | 151 |
2016 | 446 | 164 | 129 |
2015 | 448 | 167 | 124 |
2014 | 418 | 127 | 52 |
2013 | 426 | 113 | 61 |
2012 | 474 | 105 | 79 |
2011 | 458 | 94 | 49 |
2010 | 512 | 89 | 43 |
2009 | 582 | 112 | 50 |
2008 | 452 | 97 | 29 |
2007 | 353 | 114 | 35 |
2006 | 340 | 124 | 22 |
2005 | 502 | 102 | 11 |
2004 | 298 | 67 | 9 |
2003 | 258 | 33 | 0 |
2002 | 44 | 1 | 0 |
(b) Cases Closed (Click on table to reveal quarterly statistics)
Year | Case Assessment | Investigation | Litigation Group | Total |
---|---|---|---|---|
2022 | 311 | 51 | 92 | 454 |
2021 | 321 | 60 | 80 | 461 |
2020 | 316 | 54 | 87 | 457 |
2019 | 315 | 60 | 128 | 503 |
2018 | 322 | 75 | 139 | 536 |
2017 | 248 | 44 | 146 | 438 |
2016 | 307 | 54 | 89 | 450 |
2015 | 264 | 44 | 41 | 349 |
2014 | 276 | 38 | 59 | 373 |
2013 | 378 | 55 | 50 | 483 |
2012 | 369 | 55 | 55 | 479 |
2011 | 382 | 56 | 46 | 484 |
2010 | 443 | 55 | 44 | 542 |
2009 | 433 | 46 | 15 | 494 |
2008 | 289 | 85 | 22 | 396 |
2007 | 324 | 79 | 19 | 422 |
2006 | 240 | 66 | 14 | 320 |
2005 | 265 | 57 | 7 | 329 |
2004 | 240 | 33 | 1 | 274 |
2003 | 146 | 6 | 0 | 152 |
2002 | 25 | 0 | 0 | 25 |
(c) Active Caseload as at December 31, 2022 (Click on table to reveal provincial statistics)
Jurisdiction | Case Assessment | Investigation | Litigation Group | All Groups |
---|---|---|---|---|
Total Atlantic Region | 10 | 5 | 8 | 23 |
Total Central Region | 55 | 53 | 55 | 163 |
Total Prairie Region | 27 | 10 | 28 | 65 |
Total Pacific Region | 17 | 16 | 15 | 48 |
Canada | 109 | 84 | 106 | 299 |
(d) Cases in which Discipline Imposed (Click on table to reveal quarterly statistics)
Year | Cautionary Letter* | Warning Letter* | Agreement and Undertaking | Notice of Hearing |
---|---|---|---|---|
2022 | 85 | 72 | 0 | 70 |
2021 | 78 | 81 | 0 | 91 |
2020 | 112 | 60 | 0 | 79 |
2019 | 113 | 92 | 0 | 78 |
2018 | 114 | 127 | 1 | 136 |
2017 | 73 | 111 | 0 | 121 |
2016 | 86 | 120 | 0 | 111 |
2015 | 86 | 85 | 1 | 69 |
2014 | 95 | 90 | 0 | 48 |
2013 | 138 | 137 | 0 | 65 |
2012 | 135 | 86 | 0 | 48 |
2011 | 151 | 81 | 0 | 36 |
2010 | 181 | 69 | 0 | 35 |
2009** | 70 | 192 | 2 | 31 |
2008 | 0 | 225 | 7 | 31 |
2007 | 0 | 218 | 17 | 20 |
2006 | 0 | 119 | 10 | 8 |
2005 | 0 | 136 | 18 | 14 |
2004 | 0 | 60 | 2 | 1 |
2003 | 0 | 11 | 0 | 0 |
2002 | 0 | 0 | 0 | 0 |
*Each Case may result in informal discipline to one or more subjects
**Cautionary letters were introduced in July 2009
(e) Cases Opened by Type (January 1, 2022 to December 31, 2022)
Type | Number of cases* |
Percentage of total |
---|---|---|
Suitability – Investments | 106 | 28% |
Business Standards | 61 | 16% |
Unauthorized/Discretionary Trading | 31 | 8% |
Transfer of Accounts | 29 | 7% |
Personal Financial Dealings | 17 | 4% |
Conflict of Interest | 16 | 4% |
Complaint Procedure | 13 | 3% |
Falsification / Misrepresentation | 12 | 3% |
Policy & Procedures | 12 | 3% |
Pre-Signed Forms | 12 | 3% |
Supervision | 11 | 2% |
Active Signature Falsification | 10 | 2% |
Disclosure | 6 | 2% |
Provincial Securities Legislation | 5 | 1% |
Confidentiality / Privacy | 5 | 1% |
Commissions and Fees | 5 | 1% |
Suitability – Leveraging | 5 | 1% |
Acting Outside Registration Status | 4 | 1% |
Forgery / Fraud / Theft / Misappropriation / Misapplication | 4 | 1% |
Outside Activity | 3 | 1% |
Reporting Violations | 3 | 1% |
Sales Communication | 2 | 1% |
Know Your Product | 1 | 1% |
Conduct Unbecoming | 1 | 1% |
Referral Arrangements | 1 | 1% |
KYC Documentation Deficiency | 1 | 1% |
Stealth Advising | 1 | 1% |
Trading Outside Jurisdiction | 1 | 1% |
Total | 378 | 100% |
*”Type” refers to the primary allegation in the case, whether or not the alleged conduct was found to have occurred.
(f) Cases Opened by Source (January 1, 2022 to December 31, 2022)
Source | Number of cases |
Percentage of total |
---|---|---|
METS | 208 | 55% |
Public | 137 | 36% |
Member | 20 | 5% |
Financial Industry Participant | 5 | 1% |
CSA and Other Regulators | 4 | 1% |
Referral from Membership Services | 2 | 1% |
MFDA Compliance | 2 | 1% |
Total | 378 | 100% |
(g) Cases Closed by Reason (January 1, 2022 to December 31, 2022)
Reason | Number of cases |
Percentage of total |
---|---|---|
No Violation Established | 211 | 46% |
Cautionary Letter(s) Sent | 85 | 18% |
Warning Letter | 72 | 16% |
Hearing – Settlement – Violation Established | 61 | 13% |
Hearing – Violation Established | 15 | 3% |
Referred to Other Enforcement Case | 6 | 1% |
Referred – Issues Outside MFDA Jurisdiction | 2 | 1% |
Referred- Other | 1 | 1% |
Member Resolution Satisfactory | 1 | 1% |
Total | 454 | 100% |
(h) METS Complaint Events Reported (January 1 to December 31) (Click to Reveal Quarterly Details)
Year | Total Complaint Events Reported* |
---|---|
2022 | 2,531 |
2021 | 1,252 |
2020 | 1,648 |
2019 | 1,327 |
2018 | 1,563 |
2017 | 1,427 |
2016 | 1,528 |
*Numbers may change as a result of updates made to the system