May 30, 2022 (Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) today released its Priorities for the 2023 fiscal year, which spans April 2022 – March 2023.
The Priorities focus on three key themes that support the organization’s public interest mandate of protecting investors and fostering healthy Canadian capital markets. The themes include advancing initiatives and commitments related to investor protection, supporting industry transformation to more effectively and efficiently serve Canadians, and working towards the creation of a new, enhanced self-regulatory organization (SRO).
“While we actively work towards the realization of a new, enhanced SRO, IIROC continues to prioritize providing value to Canadian investors and enhancing securities regulation across Canada,” said Irene Winel, Senior Vice-President, Member Regulation and Strategy.
Selected highlights from the 2023 Priorities include:
- Exploring ways to return disgorged funds collected from advisors and firms disciplined by IIROC to harmed investors
- Continuing our work with the Canadian Securities Administrators to ensure crypto asset trading platforms are fully integrated into the Canadian regulatory system
- Modernizing our rules and approach to regulation
- Developing cybersecurity resources to help firms mitigate risk.
These activities and initiatives will take place in the context of the amalgamation of IIROC and the Mutual Fund Dealers Association of Canada (MFDA), which is scheduled to close on December 31, 2022, creating a New SRO effective January 1, 2023. The IIROC Priorities will help inform the development of a new strategic plan and priorities for the new SRO.
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IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.