If you had regular contact with someone in the investment dealer division or the mutual fund dealer division – keep contacting them.

Between the BAU work and the focus on the amalgamation there is a lot of work happening.

We will clearly communicate any changes in our processes or change in responsibilities and give you ample time to adjust if necessary.

As of January 1, many of our shared service areas like HR and IT will come together but the rest of the organization will essentially operate as two divisions.

Now that both SROs have approved the transaction, we can start to turn our attention to a name for the New SRO.

The legal name is New Self-Regulatory Organization of Canada / Nouvel organisme d’autoréglementation du Canada.

The process to select a new name will take some time to ensure we consult with stakeholders and provide them with adequate/ample time to submit their feedback.

Our legal name is New Self-Regulatory Organization of Canada / Nouvel organisme d’autoréglementation du Canada and under that we will have two divisions – an investment dealer division and mutual fund dealer division.

The same way you always have. Phone numbers and emails are not changing at this point.

No, not until we have landed on a name and even then, we will provide our Members with sufficient lead time on when they need to update things like logos on their statements and websites. Members can also continue to use the same printed brochures until they are advised of any updates.

Andrew Kriegler was named CEO of the New SRO in June, but his appointment does not take effect until January 1, 2023.

So far, Andrew’s focus has been on ensuring Members had the information they needed for the vote to approve the New SRO.

It is expected that Andrew will announce his leadership team sometime in the late fall.

Disruption to the Members should be minimal. The plan is to operate as two divisions – the investment dealer division and mutual fund dealer division. If you had regular contact with someone in the investment dealer division or the mutual fund dealer division – keep contacting them.

Since the Members’ vote, we are working on finalizing the interim rules.

It is expected that Andrew will announce a leadership structure in the late fall, with the aim to consolidate the HR and IT teams. Also, New SRO Investor Advisory Panel (IAP) will be announced. The IAP will be an independent advisory panel that will highlight investors’ issues of concern to New SRO.

For the next few months, our focus will be on the mechanical steps of bringing the two SROs together.

The reality of that means that the broader industry changes will take time, so the regulatory services that will be delivered, will stay pretty much the same on January 1, 2023, as it was on December 31, 2022.

The goal is to bring the rules together on a priority or impact basis. We will start to see new rules come out between the end of Year 1 and the beginning of Year 2. However, we will need to consult which will take time, but we need to get that started.

A new website is something we will be working on post-January 1.

However, there will be a new landing page where you can find new information such as the interim rules, information on the Office of the Investor and the Investor Advisory Panel. You will be able to find this information from links on the existing sites or from a pop up when you type in MFDA.ca or IIROC.ca.

All other information you are looking for such as notices, market information etc. will be where you always found them on either IIROC or the MFDA’s site.

We will not be shrinking our footprint. Where we have offices now, we will continue to have offices.

That being said, as leases expire in regions where we have two offices, we will look at consolidating into one space.

We will clearly communicate any changes in our processes or change in responsibilities.

The broader industry changes will take time, so delivery of regulatory services will remain the same on January 1, 2023, as they were on December 31, 2022. There are no new regulatory requirements.

If you had regular contact with someone in the investment dealer division or the mutual fund dealer division – keep contacting them.

Firms may begin to explore the option of seeking dual registration.