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 |
|---|---|---|---|---|
| McKimm, Malcolm Joseph | 30 August 2010 | $55,000 | AB | Partial |
| McManes, Valorie | 5 October 2018 | $9,000 | AB | Partial |
| Mcphail, Anthony | 8 August 2005 | $60,000 | ON | None |
| Mechaka, Yves | 30 July 2009 | $50,000 | QC | None |
| Melville, Alistair Malcolm | 23 October 2014 | $410,000 | ON | None |
| Mendelman, Allen Samuel | 29 March 2016 | $105,000 | AB | Partial |
| Metcalfe, Donald Warren | 20 February 2024 | $2,568,908 | BC | None |
| Michetti, Carlo | 5 April 2017 | $16,000 | ON | Partial |
| Mifsud, Joshua Emanuel | 9 May 2024 | $7,500 | ON | Partial |
| Minhas, Sukhjinder | 3 April 2025 | $435,000 | BC | None |