Self-Serve Portal

Administrative Monetary Penalties

The Commission has, at its disposal, several compliance tools to ensure legislation is followed. Among them are administrative monetary penalties (AMPs), small monetary penalties that can be imposed quickly and with a procedure proportionate to the penalty and nature of the offense. 

What are AMPs? 

AMPs are not new in Canada or in New Brunswick and have been used across many sectors to deal with less complex violations. They provide an avenue of escalation when violators are not responding to traditional compliance measures. They also provide a more efficient tool to address violations early and quickly, with less administrative burden.  

How will the Commission apply AMPs? 

In the Commission’s case, AMPs may be imposed to promote compliance among: 

Under AMPs, hearings are reserved for the most complex and severe cases. Although hearings can lead to fines as well, AMPs allow the Commission to: 

  • Act when the individual or entity is not responding to traditional compliance measures. 
  • Respond faster to violations and contraventions when no hearing is required. 
  • Provide a more immediate deterrence to prevent future violations. 

The penalties can range up to $10,000 for an individual or up to $25,000 for an entity. The amount of the penalty will depend on: 

  • The level of effort they made to fix the issue or reduce harm. 
  • The financial gain they received from breaking the rules. 
  • Their history of similar violations in the past five years. 
  • The length and seriousness of the violation. 
  • The actual or potential harm caused to others. 
  • The impact on public trust in the regulated sector, and any other relevant factors set out in the regulations. 

Serious offences that create a significant harm or risk to the public or that are done with malicious or fraudulent intent will continue to be pursued through enforcement actions or through criminal sanctions when appropriate. 

When will AMPs take effect? 

The Financial Advisor and Financial Planner Title Protection Act is the first piece of legislation administered by the Commission to include AMPs. Going forward, the Commission will implement AMPs as new legislation is introduced or existing legislation is amended. 

Frequently Asked Questions 

How will I be informed that an administrative monetary penalty (AMP) has been imposed? 

You will be issued a Notice of Administrative Penalty as outlined in the legislation. 

How do I pay the administrative penalty? 

Information on how to pay the administrative penalty is included in the Notice of Administrative Penalty. 

How much time do I have to pay it? 

The deadline to pay will be indicated in the Notice.  

What if I do not agree with the administrative penalty? 

You may request a review and a hearing (called an Opportunity to Be Heard) by applying to the Commission. A form will be provided.  

Once your completed form has been received by the Commission, an Opportunity to be Heard will be scheduled. 

What happens if I don’t pay the administrative penalty? 

If you have not requested a review and have not paid the AMP by the deadline date on the notice, the Commission may file a certified copy of the Notice of Administrative Penalty or decision of the Director, with the clerk of the Court of King’s Bench. Once filed, the Commission may then proceed to collect the amount owed in the same manner as if the notice or decision was a judgment of the Court for recovery of a debt.