The Investment Industry Regulatory Organization of Canada (IIROC) has been given a clean bill of health by the Canadian Securities Administrators (CSA), following the CSA’s latest review of the self-regulatory organization (SRO).
The CSA’s oversight review report only flagged three “low priority” issues for the industry SRO to address. It didn’t uncover any significant shortcomings in the areas it examined, which included business conduct compliance, trading conduct compliance, policy, and membership and registration.
The issues the CSA did uncover included a trading compliance exam module that was not updated, a concern with database access functionality and inadequate monitoring of an external provider’s re-accreditation of licensing and continuing education courses.
The three minor findings have already been addressed by IIROC, the report noted. The report also said issues uncovered in previous SRO oversight reviews have also been resolved.
The latest review was conducted jointly by various regulators, covering the period from September 1, 2017 to August 31, 2018.