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Unpaid Fines Report
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 December 31, 2025
Unpaid Fines Report
| Individual | Date of Penalty Decision or Settlement Agreement | Amount of Fine, Disgorgement (if any) and/or costs | Province | Amount Paid |
|---|---|---|---|---|
| MacDonald, Craig | 7 October 2015 | $12,500 | MB | None |
| MacDonald, Michael | 7 November 2007 | $57,500 | ON | None |
| MacDonald, Richard Allan | 9 November 2012 | $43,000 | AB | Partial |
| MacMenamin, James Martin | 3 June 2010 | $30,000 | ON | None |
| Mahilum, Edgar | 17 October 2012 | $132,500 | ON | None |
| Majdoub, Meiz | 27 October 2010 | $130,000 | ON | None |
| Malley, Brian Andrew | 25 June 2014 | $335,000 | AB | Partial |
| Malley, Christine Marie | 25 June 2014 | $265,000 | AB | Partial |
| Man, Barbara | 6 November 2013 | $10,000 | ON | None |
| Manalang, Ryan | 9 January 2025 | $27,000 | SK | None |
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