Compliance Reviews and Reports

Risk Models

Each Compliance team maintains their own risk model, which is used to assess the risk of each member firm relative to the industry and their peers. The compliance team relies on this assessment of the firm’s risk to determine the appropriate regulatory approach.

At least once every three years, we provide each Dealer Member with a Risk Trend Report (RTR) which reflects the risk assessments by each of the Compliance areas. It considers the areas of risk inherent in the firm's business model and how well the firm is managing their business based on supervisory controls and governance in place. The RTR includes recommendations to the firm to help lower their risk.

Our risk models were recently revised. Our Compliance teams produced a 3-minute video that provides an overview of the changes.

 

Compliance Examinations

Using a risk-based approach, the Compliance teams schedule and conduct examinations of Dealer Member firms to assess compliance with our Rules and applicable securities legislation. We focus on those firms and/or activities that present heightened regulatory risk. After each review is complete, we issue a report to the firm about their compliance, highlighting the areas that they need to address, improve or change.

The Compliance teams also work closely with our Market and Member Regulation Policy teams on rulemaking and guidance, and with our Enforcement team to investigate potential cases of wrongdoing.

Annual Compliance Priorities Report

Each year, IIROC issues a Compliance Priorities Report. This report highlights IIROC’s areas of focus including common exam deficiencies and emerging issues to help Dealer Members and registered individuals establish and maintain a strong culture of compliance.