IIROC:

• Writes rules that set high regulatory and industry standards. 
  
  
• Screens all investment advisors employed by IIROC- regulated firms to ensure they are of good character and have successfully completed all the required educational courses and programs.
  
  
• Conducts financial compliance reviews to ensure that firms have enough capital for the specific nature and volume of their business. IIROC- regulated firms also participate in the Canadian Investor Protection Fund which protects individual investors in the unlikely event that a firm should go bankrupt.
  
  
• Conducts business conduct compliance reviews to check that firms have procedures in place to properly supervise the handling of client accounts and that advice and transactions appropriately reflect the client’s directions.
  
  
• Conducts market surveillance to ensure that trading is carried out in accordance with securities trading rules.   
  
  
• Investigates complaints against a dealer firm, approved person, access person or participant and takes disciplinary action when rules are broken. Money from fines and settlements is contributed to IIROC’s restricted fund, which IIROC uses to fund capital expenditures necessary to address emerging regulatory issues, projects relating to investor and industry education, and other uses authorized under IIROC’s recognition orders.