A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, which includes sanctions, between IIROC staff and Credit Suisse Securities (Canada) Inc. In this agreement, Credit Suisse admits that it violated the Universal Market Integrity Rules (UMIR) by failing to comply with its trading supervisory obligations. The firm […]
Just a warning to the IIROC-licensed advisors out there whose clients held onto their income trust holdings: You might get some confused phone calls the next time client statements go out. No doubt you explained to clients long ago that most of their income trusts would convert to corporate structures by January 1, 2011. Less […]
A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Blackmont Capital Inc. and Dean Shannon Duke violated IIROC rules related to business conduct and unauthorized trading in client accounts. The panel’s full Reasons for Decision are available on the IIROC website. A separate hearing will be scheduled to determine […]
The Investment Industry Regulatory Organization of Canada (IIROC) is bolstering its market monitoring capability by introducing a single-window surveillance system for all equity markets in Canada. The Surveillance Technology Enhancement Platform (STEP) gives IIROC the ability to conduct cross-market surveillance and can currently process up to 400 million trades, orders, quotes and cancellation messages per […]
It’s been a busy year for market regulators, despite a decline in the volume of complaints. Never mind enforcement action, the bigger job now is simply monitoring the vast quantity of market chatter, according to the annual report from the Investment Industry Regulatory Organization (IIROC). There were huge increases in the number of orders to […]
Googling yourself is so passé. If you’re an IIROC-registered broker, there’s a new way to dig up your background. It can prove you’re squeaky clean, or lay your past bare, warts and all. Investors looking for a broker now have a new tool for checking out past conduct, thanks to IIROC’s new AdvisorReport. The service […]
This story bears repeating. Vikram Barhat tracked down some of the most common compliance problems among advisors. • • • A slew of financial violations have been keeping the hearing panels of MFDA and IIROC busy. Although many are deliberate, some of these offences are the result of glaring ignorance that leads financial practitioners afoul […]
Blog Polls The Investment Industry Regulatory Organization of Canada (IIROC) has called for comment on proposals to raise the award limit available under its arbitration program and to change the rules that govern such procedures. Under the proposal, award limits would rise to $500,000, from its current limit of $100,000. The rules of procedure would […]
Reams of paper. Thousands of “sign here” stickies. A fully stocked drawer of pens. A generous supply of office supplies isn’t all you’ll need to make the switch from the Mutual Fund Dealers Association of Canada (MFDA) platform to the Investment Industry Regulatory Organization of Canada (IIROC) platform. But it is absolutely essential. Advisors who’ve […]