APEXA maintains a database of disciplinary actions for advisors and corporations. Information is collected and added to APEXA from the following three regulator websites on a daily basis: 

• CIRDA (Canadian Insurance Regulators Disciplinary Actions)

• MFDA (Mutual Funds Dealers Association)

• IIROC (Investment Industry Regulatory Organization of Canada)

Disciplinary actions are not linked in any way to individual Advisor or Corporation profiles in APEXA, as the public notices and disciplinary documents do not contain sufficient information to accurately match them. Additionally, actions added may include those for advisors & corporations who are not yet on APEXA. This ensures the information is available for screening and compliance purposes, when those advisors & corporations do join APEXA.

The following information is entered for each disciplinary action added to APEXA:

• Name of the Advisor or Corporation, as listed on the regulator's website

• Source - which regulator's website it came from

• Issued date - the date on the regulator's public notice

• Created data - the date the item was added to APEXA

• A link to related notice/document on the regulator's website

Information in this database only goes back to August 2017, when APEXA was first launched.

Disciplinary actions can be found under the Search menu.

When screening new advisors or corporations, it's a best practice to also do a disciplinary actions search. To maximize the effectiveness of a search, for advisors or shareholders search on the individual's last name. This will ensure you don't miss any items added that may have included/excluded a middle name or used a variation of the first or middle name.

For any name matches, you'll want to review the linked notice/document to understand the issue and determine if this is an item related to the advisor or corporation you're screening. As mentioned previously, APEXA does not link disciplinary actions to advisor or corporation profiles, as the information provided is usually not sufficient to guarantee an accurate match. If you are unsure of a true match, please confirm with the advisor or corporation in question.

Your organization can get notified when new disciplinary action items are added to APEXA in two ways.

When setting up either a saved search or trigger for this, you'll want to use the Created Within (Days) field. This field captures the date of when the item was added to APEXA. Once added, items are rarely (if ever) modified.

Since disciplinary actions are not linked to specific profiles, and can include items for advisors and corporations not yet on APEXA, you'll need to determine if these are people or companies with whom your organization works. This is easily done by running an advisor search on each name in the search results or tasks generated.

Links provided with disciplinary actions are simply web addresses related to that specific item on the regulator's website. If you come across links that no longer work, it means the regulator has made changes to their website after that link was added to APEXA. The fact that the disciplinary action item was reported is still accurate, you will just need to do an additional search on the regulator's website to view the details.

Known link issues: 

• IIROC made changes to their website sometime in June 2021. Links for IIROC items prior to that change will no longer work. To find details related to those disciplinary action items, please go to the Enforcement area of the IIROC website and search on the advisor's or corporation's name.