An enforcement proceeding is an administrative proceeding initiated by the Financial and Consumer Services Commission alleging that a person has violated financial and consumer services legislation and requesting sanctions for those alleged violations. The Financial and Consumer Services Commission starts an enforcement proceeding by filing a Statement of Allegations (Form 2) or a Notice of Application (Form 3) with the Tribunal.


If the allegations set out in the Statement of Allegations or Notice of Application are proven, on a balance of probabilities, following a hearing, the Tribunal has the authority to impose a wide range of sanctions on individuals and companies ranging from market bans to significant monetary penalties. These sanctions can have serious financial and employment consequences.