The Canadian Securities Administrators (CSA) today released its Oversight Review Report of the Investment Industry Regulatory Organization of Canada (IIROC), which evaluates whether IIROC has complied with the terms and conditions of its Recognition Orders, and whether specific regulatory processes are effective, efficient and applied consistently and fairly.
Based on the annual risk-based assessment, CSA staff focused their review on specific processes within IIROC’s equity and debt market surveillance functions. CSA staff identified one low priority finding regarding certain IIROC processes that were not integrated into its surveillance policies and procedures manuals. IIROC has already resolved the finding.
CSA staff note that IIROC has made sufficient progress in resolving findings cited in previous oversight reports.
The review was conducted by staff of the CSA, which recognizes IIROC as a self-regulatory organization.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
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