As the national self-regulatory organization for the Canadian investment industry, IIROC is responsible for developing recommendations to amend existing rules, establish new rules, as required, and interpret existing rules.
The mandate of the Regulatory Policy Department is to develop recommendations to amend existing rules, establish new rules, as required, and interpret existing rules to ensure that regulatory policies and rules continue to stay ahead of the rapidly changing marketplace.
Following research, drafting, and consultation with policy advisory committees, proposals are submitted to the IIROC Board of Directors for approval.
Board approved proposals are then submitted to IIROC’s oversight regulators and are published for public comment.
The final step in the process is the publication of Notices (including interpretive guidance where appropriate) to announce approved rules and/or to set implementation dates.