The Investment Industry Regulatory Organization of Canada and the Chambre de la sécurité financière has entered into an agreement that aims to help protect investors in Quebec.

Under a Memorandum of Understanding signed yesterday, the two regulators will share with each other the decisions and sanctions of their respective disciplinary processes. They will also coordinate their activities relating to the authorization of individuals.

So, under the agreement, a disciplinary decision or action taken by one of the two regulators will automatically trigger a review of the sanctioned individual’s activities by the other organization, which may result in a second investigation or other appropriate action.

“We intend to pursue similar agreements with other organizations [to] enable greater efficiency and consistency of the supervisory system in the public interest,” says Andrew J. Kriegler, president and CEO of IIROC.

The agreement takes effect immediately.

For more on regulatory updates, read:

How many women on boards? Regulators release data

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