IIROC was established on June 1, 2008 from the merger of the Investment Dealers Association of Canada (IDA) and Market Regulation Services Inc. (RS).

Milestones

April 26, 2006
The Boards of Directors of the IDA and RS announced that they had approved in principle a proposal to create a new self-regulatory organization to succeed the IDA and RS.

December 17, 2007
Member firms of the IDA approved (with 98.3% of votes cast) a resolution approving the combination of the IDA with RS into a new self-regulatory organization. Please see Information Circular.

March 17, 2008
IIROC was incorporated as a non-profit, without share capital corporation

May 2008
The Canadian Securities Administrators approved the Application of IIROC

Our History

Investment Dealers Association of Canada

The IDA was formed in 1916 when a group of Toronto bond dealers created the Bond Dealers Section of the Toronto Board of Trade. Over the years, the IDA evolved into a decentralized national self-regulatory organization with a dual regulatory and trade association mandate. Its work was carried out through an extensive structure of national and regional committees representing a diversity of business and geographic perspectives. Starting in the 1990s, provincial regulators recognized the IDA as a self-regulatory organization for full service investment dealers and their registered employees; securities legislation was introduced to require membership in a self-regulatory organization, which had previously been voluntary, to be mandatory for any firm wishing to operate as a full service securities dealer in Canada ; and the trade association role was eliminated in 2006, with the creation of a separate and independent trade association.

Market Regulation Services Inc.

Launched on March 1, 2002, RS was created as a joint initiative of TSX Group and the Investment Dealers Association of Canada (IDA).  RS amalgamated the in-house surveillance, trade desk compliance, investigation and enforcement functions of the TSX and TSX Venture Exchanges to produce a new single, neutral entity to monitor and enforce trading rules without preference to one marketplace over another.