The Investment Dealers Association of Canada has released its disciplinary sanction guidelines. The guidelines are used by the senior vice president, member regulation, or staff designated by him to recommend penalties.

In addition, the guidelines may be taken into account by disciplinary panels when determining the appropriate sanction to be imposed as part of a settlement agreement or at the end of a disciplinary proceeding.

IDA district councils have the power to impose specified penalties where it has been found that an individual registrant or a member firm fails to comply with the association’s by-laws, regulations, rules and policies.

Sanctions may include any one or a combination of:


  • a reprimand;
  • a fine up to $1 million per offence or an amount equal to three times the pecuniary benefit obtained as a result of any violation, whichever is greater;
  • termination of a member’s membership and expulsion from the IDA;
  • suspension or termination of an individual’s registration;
  • imposition of terms and conditions on a member or individual.



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