IIROC Publishes Priorities for Fiscal 2020

Recently, the Investment Industry Regulatory Organization of Canada (IIROC) published its regulatory priorities for fiscal 2020 and a three-year strategic plan.

Key priorities include:

Deliver Value for Canadians and the Financial System

  • Work with the Canadian Securities Administrators (CSA) to propose a safe-harbour rule and develop additional tools to help dealers protect vulnerable investors

  • Begin development of competency profiles for IIROC approval categories of individual registrants

  • Broaden scope of IIROC's debt transparency program to include both a larger set of corporatebond and government debt information

Support Industry Transformation

  • Evolve self-regulatory model to more effectively and efficiently serve Canadians

  • Continue to partner with the CSA on the development of a regulatory framework for cryptotrading platforms

Leverage Data and Analytics

  • Further enhance surveillance system to support the continued evolution of market supervision

  • Use leading-edge analytic capabilities (artificial intelligence, machine learning) and data that IIROC collects for regulatory purposes to improve effectiveness and predictive capabilities

  • Continue to enhance data-sharing platform and capabilities

Help Firms with Compliance

  • Implement the Plain Language Rule Book and training for dealers and staff

  • Commence modernization of IIROC's approach to supervision

  • Develop Dealer Report Cards specific to market regulation compliance

Strengthen Enforcement

  • Continue to pursue and implement additional powers, protections and tools

  • Approve and finalize the two programs of Alternative Forms of Disciplinary Action

  • Begin phased implementation of client identifier requirements

Drive Efficiency and Operational Effectiveness

  • Complete transition to a new digital services platform and continue business application renewal,consolidation and integration

Attract, Retain and Enable Skilled People

  • Evolve Human Resources and workplace strategies to ensure IIROC can continue to attract, develop and retain the talent it needs to be a leading-edge regulator

You can access the IIROC publication here.

DISCLAIMER: This post is intended to convey general information about legal issues and developments as of the date above. It does not constitute legal advice and must not be treated or relied on as such.