\n\tThe Investment Industry Regulatory Organization of Canada is implementing new fee models for market and dealer regulation to better reflect the evolution of trading activity and the drivers of IIROC’s regulatory costs, the self-regulatory organization said Thursday.<\/p>\n
\n\tEffective April 1, IIROC says the changes are the direct result of extensive stakeholder consultations, guided by an industry committee representing a cross-section of firms and marketplaces that IIROC regulates.<\/p>\n
\n\t“We developed the new fee models based on the principles of fairness, transparency and industry competitiveness,” says Susan Wolburgh Jenah, IIROC president and CEO.<\/p>\n
\n\tThe new fee structure replaces two fee models that were in place at IIROC’s predecessor organizations, the Investment Dealers Association of Canada (IDA) and Market Regulation Services Inc. (RS).<\/p>\n
\n\tThe SRO says it has been working with the industry to help prepare members by providing fee model guidelines, pro forma invoices and supplementary information in advance of the implementation.<\/p>\n
\n\tIIROC notes that it operates on a cost-recovery basis and has returned almost $12 million to the industry since 2008 in operational surpluses.<\/p>\n
\n\tHighlights of IIROC’s new fee models:<\/p>\n
\n\tIIROC says it is one of the first financial regulators globally to propose and implement recovering technology costs based on messages. Approximately 85% of firms will see a decrease based on the new market regulation model, while 15% of firms will experience a fee increase.<\/p>\n
\n\tFull details on the integrated fee model and its various components, can be found in IIROC’s February 3, administrative notice, “Approval of Integrated Fee Model” and “IIROC Fee Model Guidelines” from March 5.<\/p>\n","protected":false},"excerpt":{"rendered":"
25% of firms will see a decrease and 37% will see an increase in fees under the new dealer regulation model<\/p>\n","protected":false},"author":38954,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2324],"tags":[2325,2358],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/292661"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/38954"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=292661"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/292661\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=292661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=292661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=292661"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=292661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}