In December 2019, the Canadian Securities Administrators (CSA) began a review of the regulatory framework for IIROC and the Mutual Fund Dealers Association of Canada (MFDA).
On August 3, 2021, the CSA published its position paper (pdf) regarding the self-regulatory organization (SRO) framework.
The CSA has led a thoughtful and deliberate consultation on the appropriate framework for self-regulation. This work is important to Canadians and their financial futures.
IIROC enthusiastically supports the CSA’s decision to create a new, single, enhanced pan-Canadian SRO to deliver efficient and effective regulation in the public interest.
The CSA proposal builds on an already strong foundation, and will:
- Deliver value for investors, regardless of where they live, how many assets they have or their level of investing sophistication.
- Foster an innovative and competitive industry to ensure there are investment opportunities and value propositions for existing and evolving Canadian investor needs.
- Make it easier for dealers and their advisors to serve Canadians, regardless of region, firm size or business model.
- Reduce duplicative regulatory burden and complexity, particularly for those running separate IIROC and MFDA platforms, as well as those in Quebec.
- Reduce barriers for current single platform dealers looking to expand their business models.
IIROC looks forward to working more closely with the CSA and the MFDA to achieve our goal of making the self-regulatory framework more efficient, effective and one that ultimately leads to better outcomes for Canadians.
See IIROC’s publications and supporting research below.
Read IIROC views and supporting research:
- Response to CSA consultation (pdf) (IIROC response, October 2020)
- Improving self-regulation for Canadians (pdf) (IIROC proposal, June 2020)
- Qualitative Research Among MFDA Advisors (pdf) (Navigator, October 2020)
- A 360 Review of Ideas and Concerns Related to the Canadian Investment Marketplace: A Consultation Among MFDA and Dual-Platform Dealers (pdf) (Navigator, October 2020)
- Deloitte Assessment of Benefits and Costs of Self-Regulatory Organization Consolidation (pdf) (July 2020)
- Access to Advice (pdf) (The Strategic Counsel, January 2020)
- Enabling the Evolution of Advice (2019)
Related news releases:
- August 3, 2021 - MFDA and IIROC Support Decision of the Canadian Securities Administrators to Create a New Single Enhanced SRO
- February 22, 2021 - IIROC responds to CSA’s statement on progress towards a new self-regulatory organization framework
- November 5, 2020 - Independent Studies Show Investment Industry Strives to Provide Comprehensive Financial Advice to Best Serve Canadians but Regulatory Burden and Silos Create Unnecessary Challenges
- August 25, 2020 - Consolidating IIROC and MFDA would save up to half a billion dollars and enhance investor protection
- July 9, 2020 - IIROC welcomes report from Ontario's Capital Markets Modernization Taskforce
- June 25, 2020 - IIROC welcomes the CSA’s public consultation and review of IIROC and MFDA regulatory framework
- June 9, 2020 - IIROC calls for consolidation of self-regulators to better serve and protect Canadians