Alert:
For more information on the cybersecurity incident, please visit the cybersecurity incident page.
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, 2024
Unpaid Fines Report
| Individual | Date of Penalty Decision or Settlement Agreement | Amount of Fine, Disgorgement (if any) and/or costs | Province | Amount Paid |
|---|---|---|---|---|
| Master, Devina | 24 July 2025 | $165,000 | ON | None |
| Matthews, Grant Patrick | 5 January 2015 | $220,000 | AB | None |
| Mawer, Bruce | 18 August 2014 | $60,000 | AB | Partial |
| Maxwell, Sean | 6 March 2018 | $70,000 | ON | None |
| Maynes, William | 10 September 2013 | $25,000 | ON | None |
| McAuley, Chris Michael | 23 March 2011 | $40,000 | ON | None |
| McBurney, Michael | 10 November 2015 | $82,500 | ON | None |
| McCarthy, Joan Marie | 23 December 2021 | $1,103,522.14 | NL | None |
| McCullough, Brian | 9 February 2017 | $85,000 | BC | None |
| McErlean, Shaun Gerard | 16 March 2012 | $90,000 | ON | None |
Welcome to CIRO.ca!
You can find the Canadian Investment Regulatory Organization (CIRO) at CIRO.ca with our fresh look and feel.