Fishing areas for this species is abundant. The most recent assessments show that the overall stock status is good. Conditions vary depending on the fishing areas, with some areas overfished, while stock in other areas is sustainable. The overall fishing areas are likely to keep the stock at a sustainable level.
In the past, there have been reported incidents of interactions with endangered, threatened, protected (ETP) species such as seabirds, sea turtles, sharks and rays and marine mammals. Notably, after two decades of relatively steady but slow growth, the population of the North Atlantic right whale (NARW) has declined since 2010. Due to the small number of individuals, the fishery has caused significant damage to the NARW population. NARW get entangled by traps and pot lines. The discard rate and bycatch of non-ETP species are low. Pots and traps have moderate to low impact on benthic habitats.
This fishery is managed by the Department of Fisheries and Ocean Canada (DFO). Management measures include closures in the NARW critical habitat areas, measures to minimise the amount of rope in the water, mandatory reporting of lost gear and interactions with marine mammals. To combat illegal, unreported and unregulated (IUU) fishing, the Canadian government has implemented several policies and programmes over the years. Overall management is considered largely effective.