Investment Industry Regulatory Organization of Canada (IIROC)
The Investment Industry Regulatory Organization of Canada (IIROC) is an organization charged with overseeing investment dealers, brokers, and trading activity in debt and equity markets in Canada. The Investment Industry Regulatory Organization of Canada (IIROC) is an organization charged with overseeing investment dealers, brokers, and trading activity in debt and equity markets in Canada. The Investment Industry Regulatory Organization of Canada (IIROC) is a self-regulatory organization, and is the equivalent of the Financial Industry Regulatory Authority (FINRA) in the United States. The Investment Industry Regulatory Organization of Canada (IIROC) is a self-regulatory organization, roughly equivalent to the Financial Industry Regulatory Authority (FINRA) in the United States. Some of the IIROC's functions are writing regulatory and investment industry standards and enforcing them, screening investment advisors, conducting financial compliance reviews, setting minimum capital requirements, and holding disciplinary proceedings.
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What Is the Investment Industry Regulatory Organization of Canada (IIROC)?
The Investment Industry Regulatory Organization of Canada (IIROC) is an organization charged with overseeing investment dealers, brokers, and trading activity in debt and equity markets in Canada. The organization has a mandate to protect investors and is granted various powers toward that end.
Understanding the Investment Industry Regulatory Organization of Canada (IIROC)
The Investment Industry Regulatory Organization of Canada (IIROC) is a self-regulatory organization, and is the equivalent of the Financial Industry Regulatory Authority (FINRA) in the United States. Established in 2008, its objective is to maintain fair and orderly markets and regulate all securities-related commerce within the country — including investment-related sales activity by brokers, agents, and financial advisors.
The IIROC operates under Recognition Orders from the provincial and territorial securities commissions that make up the Canadian Securities Administrators (CSA). It has quasi-judicial powers to set and enforce laws in the Canadian securities and trading markets — and can levy fines, suspensions, and other disciplinary action against delinquent firms, brokers, and advisors.
IIROC regulated firms also participate in the Canadian Investor Protection Fund (CIPF), which protects individual investors in the event that an investment firm should go bankrupt. As provided for in the Industry Agreement between CIPF and IIROC, IIROC recommends an Industry Director for nomination to the CIPF Board.
What the Investment Industry Regulatory Organization of Canada Does
The Investment Industry Regulatory Organization of Canada has several functions, including:
Related terms:
Antitrust
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British Columbia Securities Commission (BCSC)
The British Columbia Securities Commission (BCSC) is an independent government agency responsible for regulating securities trading in British Columbia, Canada. read more
Canadian Investor Protection Fund (CIPF)
The Canadian Investor Protection Fund is a not-for-profit designed to protect investors from the bankruptcy of an individual investment firm. read more
Compliance Program
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Canadian Securities Administrators (CSA)
Canadian Securities Administrators is a collective forum composed of all the territorial and provincial securities regulators of Canada. read more
Financial Industry Regulatory Authority (FINRA)
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Mutual Fund Dealers Association (MFDA)
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Ontario Securities Commission (OSC)
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Self-Regulatory Organization (SRO)
A self-regulatory organization (SRO) is able to create and enforce industry regulations and standards by itself. read more
Universal Market Integrity Rules (UMIR)
Universal Market Integrity Rules (UMIR) are a set of rules governing trading practices in Canada controlled by an independent regulator. read more