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CIRO Facts for Québec
Mutual Fund Dealer Representatives
CIRO is the pan-Canadian self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces.
CIRO’s mission is to promote healthy capital markets by regulating fairly and effectively so that investors feel protected and confident about investing in their futures.
Who we are?
CIRO was formed in January 2023 when the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) amalgamated. The CSA gave CIRO its mandate through 13 recognition orders from each provincial and territorial securities commission who continue to oversee the organization’s work.
70,000+
We regulate more than 70,000 mutual fund dealer approved persons (representatives).
75%
Seventy-five percent of CIRO members have fewer than 100 employees.
32%
Thirty-two percent of member firms have revenues of less than $5 million.
CIRO Montréal is the second largest CIRO office, with more than 100 bilingual employees representing every department of the organization—from registration and compliance to continuing education, from member regulation to market surveillance.
CIRO operates on a cost-recovery basis. Fees are proportionate to the regulatory services provided.
* Last updated June 19, 2026.
Welcome to CIRO.ca!
You can find the Canadian Investment Regulatory Organization (CIRO) at CIRO.ca with our fresh look and feel.