IIROC announces three-year Strategic Plan and FY 2020 Priorities

Preserving investor protection while supporting investment industry transformation

TORONTO, June 4, 2019 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) today announced its new three-year Strategic Plan, covering the period April 1, 2019 to March 31, 2022. At the same time, IIROC published its FY 2020 Priorities, outlining where the public interest regulator will take action to better protect investors and promote healthy capital markets in Canada in the first year of its new plan.

IIROC's Strategic Plan has seven strategies, supported by the FY 2020 Priorities to:

• deliver value for Canadians and the financial system
• support industry transformation
• leverage data and analytics
• help firms with compliance
• strengthen enforcement
• drive efficiency and operational effectiveness
• attract, retain and enable skilled people.

"I am pleased to report that we accomplished the key goals of our previous three-year plan, with the overarching objective of enhancing investor protection and supporting healthy Canadian capital markets," comments Andrew J. Kriegler, IIROC President and CEO. "We will continue to build on the progress we have made through the diligent work of our staff across the country and in collaboration with our regulatory partners and diverse stakeholders."

As a national self-regulatory organization, IIROC is committed to effective and efficient regulation. While reinforcing the importance of IIROC's day-to-day work, the new Strategic Plan reflects the significant transformation underway across the industry, driven by the changing needs and expectations of Canadians and the ways that technology is facilitating innovation. The Plan also highlights IIROC's commitment to responding and adapting to new market realities and ensuring organizational readiness for future change.

Kriegler notes, "Our priorities continue to focus on providing more agile and proportionate regulation to enable investment firms to meet Canadians' changing financial needs and expectations without adding to the regulatory burden. Our ultimate goal is to provide value to all Canadians and the financial system in the way we regulate while continuing to protect investors and promote the health of Canadian capital markets."

IIROC oversees all investment dealers and their trading activity in Canada's debt and equity markets coast-to-coast. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of more than 170 Canadian investment dealer firms and their more than 29,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. As a self-regulatory organization, IIROC does not rely on any government funding to fulfill its mandate to protect investors and support healthy capital markets.

Appendix

IIROC FY 2020 Priorities
June 2019

IIROC's FY 2020 Priorities outline where the public interest regulator will take action to better protect investors and promote healthy capital markets in Canada in the first year of its new Strategic Plan.

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 corporate bond 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 crypto trading 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 our Human Resources and workplace strategies to ensure we can continue to attract, develop and retain the talent we need to be a leading-edge regulator

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]

Related Links

www.iiroc.ca