CIRO Oversight Review Report and Activities
Report on the Oversight of CIRO and CIPF
TORONTO, March 28,
2024 /CNW/ - The Canadian Securities Administrators
(CSA) today released two new reports: the Oversight Review Report
of the Canadian Investment Regulatory Organization (CIRO)
(Oversight Report) and the 2023 Annual Activities Report on the
Oversight of CIRO and Canadian Investor Protection Fund (CIPF)
(Activities Report).
The Oversight Report evaluates whether CIRO has complied
with the terms and conditions of its Recognition Orders, and
whether regulatory processes are effective, efficient, and applied
consistently and fairly. CSA staff completed a risk-based oversight
review of CIRO that targeted specific processes within the areas of
corporate governance, trading review and analysis, and financial
compliance of investment dealers and mutual fund dealers. CSA staff
identified two medium priority findings regarding certain CIRO
processes that were not addressed by CIRO's policies and
procedures. CIRO has already resolved the findings.
The Activities Report (CSA Staff Notice 25-311) summarizes
key information, activities and observations related to CSA
oversight of CIRO and CIPF during the 2023 calendar year, the first
year after the amalgamations to form CIRO and CIPF. The
Activities Report is an important tool for engaging with CSA
stakeholders and has adopted a new format which will serve to
explain the CSA's role in overseeing CIRO's and CIPF's compliance
with securities regulation requirements and maintain public
confidence in the regulatory framework.
The CSA, the council of the securities regulators of
Canada's provinces and
territories, co-ordinates and harmonizes regulation for the
Canadian capital markets.
For Investor inquiries, please refer to your respective
securities regulator. You can contact
them here.
SOURCE Canadian Securities Administrators