The Investment Industry Regulatory Organization of Canada (IIROC) is reviewing its strategic direction as a result of a wave of unprecedented changes in securities markets — and the self-regulatory organization (SRO) is seeking feedback from the investment industry as part of that exercise.
There have been “sweeping changes” to the business environment for investment firms in recent years, including technological advances and innovation, which are affecting the client/advisor relationship, the services offered to clients and overall market structure, IIROC points out in a notice. In addition, “changing demographics, investor needs and expectations are posing new opportunities and challenges for regulators and the broader financial services industry.”
At the same time, the Canadian regulatory landscape also has continued to evolve, including changes in the way IIROC and other regulators collect and analyze data.
“As all market participants adapt to meet these challenges, IIROC is reviewing how we can best fulfill our public interest regulatory mandate in this changing climate,” the SRO says, adding that it is re-evaluating its current strategic objectives and priorities. “We are now seeking public input to assist with our strategic planning process.”
In particular, IIROC is looking for feedback on the important trends in the investment industry and regulatory environment that could impact the SRO — as well as how these trends may impact the SRO. It’s also seeking insight into the value IIROC can create and input on how its role should evolve in this context.
IIROC intends to issue a notice in the spring of 2016 outlining its strategic objectives and priorities for the years ahead.