CIRO Releases First Annual Report
September 25, 2023 (Toronto, Ontario) - The Canadian Investment Regulatory Organization (CIRO) today released its first Annual Report. In addition to delivering on its core mandate of investor protection and market integrity, CIRO outlined the significant progress made on its first year Priorities the report also highlights how the organization has continued to support Canadians by protecting investors, fostering healthy Canadian capital markets, and prioritizing industry transformation.
This is the first Annual Report since the amalgamation of the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC).
“To accomplish major structural reform in the regulatory sector from start to finish in three years is something to be proud of,” said Andrew J. Kriegler, President, and CEO of CIRO. “Within the guardrails of strong investor protection, we want to give firms more flexibility in how to structure themselves to serve their clients, not less and to make it easier and simpler for Canadians to access financial advice.”
Highlights of the report include:
- CIRO’s first three dual-registered firms, with more in the pipeline
- Standing up of the Office of the Investor and Investor Advisory Panel
- Updates on strategic planning, integration efforts, compliance, and enforcement
“As we continue to make progress on our major milestones, we are also moving forward with a greater sense of who we are, as a brand-new organization,” said Kriegler. “The real work of integrating two teams and two regulatory models is just beginning, and I am excited to see where we are a year from now.”
The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.