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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