Hearing Panel Decisions

A hearing panel may issue a decision in writing or orally at the end of the hearing. At the end of a settlement hearing, a hearing panel will often tell the parties whether it accepts or rejects the settlement. That is the decision. What follows is the written Reasons for Decision.

Publication and Enforceability

The Hearings Office issues a decision to the parties as soon as it is rendered by a hearing panel. Unless stated otherwise, a hearing panel’s decision is effective on the date it is dated.

All decisions are published on CIRO’s website (except decisions to reject a settlement agreement).

CIRO can enforce decisions and collect fines through courts in every province and territory of Canada.

Search Decisions

To search for a CIRO hearing panel decision, you may visit:

Review or Appeal a Decision

CIRO hearing panel decisions can be reviewed by the relevant securities regulatory authorities. Consult the securities legislation in your jurisdiction to determine the proper procedure to launch a review, a.k.a. an appeal and take note of any applicable deadlines:

Welcome to CIRO.ca!

You can find the Canadian Investment Regulatory Organization (CIRO) at CIRO.ca with our fresh look and feel.

The following sections of the legacy mfda.ca and iiroc.ca sites have been migrated to ciro.ca:

  • Enforcement
  • Hearings
  • Consultations
  • A unified member directory (Dealers We Regulate)
  • Advisor Report

We will continue moving items off MFDA and IIROC in 2024. Stay tuned for future updates.

Visit the Canadian Investment Regulatory Organization website