Home Breadcrumb caret Industry News Breadcrumb caret Industry IIROC and MFDA to get greater enforcement powers in B.C. Amending B.C.’s Securities Act to give IIROC and MFDA greater enforcement powers By Staff | April 17, 2018 | Last updated on April 17, 2018 1 min read The B.C. government is amending its Securities Act to give IIROC and the MFDA greater enforcement powers. Specifically, the two self-regulatory organizations will be able to enforce penalties as court orders against investment dealers who wrong investors. The amendments will give IIROC and the MFDA the ability to file decisions directly with a court of law. Filing in court means that they will be able to pursue outstanding fines and order a person to comply with decisions. Read: IIROC warns about fraudsters illegally selling binary options IIROC and the MFDA have the power to file fines in court in some other provinces. IIROC has reported seeing an increase in fine collection rates in Alberta since being given the power, a release from B.C.’s finance department said. “We’re taking action to protect people who invest by giving self-regulatory organizations the tools they need to collect fines and deter fraudulent behaviour,” B.C. Finance Minister Carole James said in the release. Also read: MFDA to launch 2018 client research project IIROC takes action as advice evolves Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo