Dunno if it's the same in Canada but in the UK the professional college (Royal College of Nursing or "RCN") is not the same thing as the professional governing body (The Nursing and Midwifery Council, or "NMC")...
Over here, the NMC is the one you have to worry about (they can suspend or completely strip the professional registration so you can't be a nurse at all any more i.e. "being struck off") and an RCN investigation is ...
. They could slap you on the wrist or kick you out of the RCN entirely but you don't need to be an RCN member to practice as a nurse... whilst it's by far the largest, there are other groups/unions. It has no REAL bearing on what jobs you can hold or apply for.