On November 18 2021, the CSA announced the timelines to create a single, new, enhanced self-regulatory organization.
The announcement is an exciting day in our journey and a crucial step toward one SRO.
A new, enhanced, pan-Canadian SRO which consolidates the efforts of IIROC and the MFDA will increase access to advice while better-protecting investors and is precisely what Canadians and the industry that serves them deserve.
IIROC applauds the CSA for leading a timely and effective process.
A new, single SRO builds on a 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 Québec.
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Reduce barriers for current single platform dealers looking to expand their business models.
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