The role of Financial & Operations Compliance (FinOps) is to monitor the financial status of its Dealer Member firms and enforce compliance with IIROC rules. The main elements of the department’s work are:

Review of financial regulatory filings – FinOps staff review monthly financial reports and year-end audited joint regulatory financial questionnaires and reports to identify changes in trends, financial status, and profitability. When necessary, IIROC can take preventive measures to preserve the capital position of a firm and protect client money and securities.   Any Dealer Member firm that does not meet minimum capital requirements is referred to as capital-deficient. The firm must immediately rectify its capital position or face possible suspension or termination of membership.

Annual and biennial "surprise" field examinations – FinOps staff conduct "surprise" examinations of each Dealer Member’s books and records to ensure the reliability of their unaudited regulatory filings.

Review of audit working papers – Each Dealer Member firm is subject to a year-end audit by an approved panel auditor to validate the information filed by the firm with IIROC. To ensure the quality of the audit, FinOps staff review the panel auditor’s working paper files within three months of the filing date of the firm’s joint regulatory financial questionnaire and report.