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.