The Unpaid Fines Report is for information purposes only and is updated on a quarterly basis. The report lists individuals who failed to pay fines, disgorgement, or the costs imposed as a result of an enforcement proceeding before a CIRO Hearing Panel (or a prior IIROC or MFDA Hearing Panel).
Updated as of June 30, 2026
Unpaid Fines Report
| Individual | Date of Penalty Decision or Settlement Agreement | Amount of Fine, Disgorgement (if any) and/or costs | Province | Amount Paid |
|---|---|---|---|---|
| Lam, Leo | 22 November 2018 | $107,500 | AB | Partial |
| Lambert, James Dale | 5 April 2013 | $13,000 | SK | None |
| Lann, Ronald | 14 January 2013 | $115,000 | QC | Partial |
| Laroche, Alain | 9 May 2012 | $25,000 | QC | None |
| Larson, Wayne | 27 August 2009 | $212,500 | AB | Partial |
| Latour, Gilles | 19 December 2016 | $910,000 | ON | None |
| Laverdiere, Luc Marc | 3 May 2010 | $22,500 | BC | None |
| Lavoie, Frédéric | 3 September 2013 | $85,000 | QC | Partial |
| Law, Saveth | 5 February 2019 | $57,500 | AB | None |
| Leclair, Joplin | 22 August 2008 | $267,500 | ON | None |