Canada:
Alberta Seeks To Bolster IIROC And MFDA Investigatory Powers
08 June 2017
Borden Ladner Gervais LLP
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In May, Alberta introduced new legislation which will provide IIROC and
the MFDA with significantly more investigatory powers akin to those
of the police and the OSC. The proposed bill provides that IIROC
and the MFDA will have the power to compel evidence and testimony
from witnesses during investigations. It also seek immunity for
both SRO's from civil lawsuits.
If the bill is passed, Alberta will be the first province to
have (1) investigatory powers; (2) immunity from civil suits; and
(3) the ability to enforce fines through the courts.
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