At the National Institute on U.S.-Canadian Securities Litigation in Toronto this week, regulators and litigators discussed industry developments. Best interest standard at a standstill? Panellists expressed concern about the best interest standard’s regulatory uncertainty and unintended consequences for advisors and firms’ business models. For example, the OSC needs to clarify the difference between a best […]
What results from the 2016 oversight review reveal for dealers
The board re-appointed Marianne Harris as chair and appointed Paul Allison as vice-chair.
The two national regulators will exchange information to protect consumers
Reps registered with IIROC without completing 90-day training
Further enhancements in the works for compensation conflicts
On July 5, 2017, an IIROC hearing panel accepted a settlement agreement, with sanctions, between IIROC staff and Scotia Capital Inc. Scotia Capital admitted it failed to adequately supervise two registered representatives when they recommended unsuitable securities transactions for clients. The transactions weren’t in keeping with good business practice, contrary to IIROC dealer member rules […]
IIROC, the self-regulatory body for investment dealers, says it is stepping up its market surveillance capabilities after reaching an agreement to use upgraded Nasdaq technology. The agreement, announced Thursday, allows IIROC to use new Nasdaq SMARTS surveillance technology to oversee all securities trading on debt and equity markets in Canada. The upgraded Nasdaq SMARTS system, […]
IIROC has increased transparency in Canada's debt market by expanding the information available on its corporate bond website
Failure to make timely changes to examinations results in high-priority finding