October 23, 2020 is the deadline to provide feedback on the self-regulatory organization (SRO) framework consultation paper.
Learn more about what the ASC is doing to support market participants and investors.
Dec 12, 2019
Toronto and Vancouver – The Canadian Securities Administrators (CSA) today announced that it will undertake a review of the regulatory framework for the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).
“The regulatory framework for these self-regulatory organizations has been in place for several years, and the industry has evolved significantly during this time,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “In response to requests formulated by market participants, we believe it is appropriate to revisit the current structure and seek comment from stakeholders.”
The CSA expects to publish a consultation paper by mid-2020. As part of the consultation, the CSA will re-examine the initial policy reasons for the current regulatory framework, as well as its benefits, strengths and challenges. Additionally, the CSA will consult with industry stakeholders and consider the evolution of the financial services industry and the impact of innovation on the current framework.
IIROC is recognized by all 13 provincial and territorial jurisdictions, and the MFDA is recognized by eight provinces. The current regulatory framework requires that registered investment dealers be members of IIROC and registered mutual fund dealers be members of the MFDA in the provinces that recognize the MFDA.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Kristen Rose Ontario Securities Commission 416-593-2336
Brian Kladko British Columbia Securities Commission 604-899-6713
Sylvain Théberge Autorité des marchés financiers 514-940-2176
Steven Dowling Government of Prince Edward Island Superintendent of Securities 902-368-4550
Tom Hall Office of the Superintendent of Securities, Northwest Territories 867-767-9305
Jeff Mason Nunavut Securities Office 867-975-6591
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Hilary McMeekin Alberta Securities Commission 403-592-8186
Jason Booth The Manitoba Securities Commission 204-945-1660
Sara Wilson Financial and Consumer Services Commission, New Brunswick 506-643-7045
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160
David Harrison Nova Scotia Securities Commission 902-424-8586
Renée Dyer Office of the Superintendent of Securities Newfoundland and Labrador 709-729-4909