Alert:
CIRO Media Kit
Media inquiries
Reporters looking for more information can contact [email protected]. Include your deadline, organization, and any other information you consider relevant.
In the case of urgent matters, contact:
Sean Hamilton
Director, Corporate Communications and Public Affairs
Phone: 647-308-6497
Email: [email protected]
Sean Benmor
Senior Corporate Communications and Public Affairs Specialist
Phone: 416-968-7954
Email: [email protected]
Learn more about CIRO with our comprehensive media kit.
About CIRO
Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces.
CIRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments.
Protecting Investors
CIRO sets and enforces rules for the business and financial conduct of Canadian investment and mutual fund firms and their representatives across Canada. All registered representatives are subject to high proficiency standards, training, and supervision by member firms.
The compliance teams examine firms for compliance with conduct, trading, prudential and operating rules, and work with firms to ensure they continually meet high standards while providing financial services to their clients.
Enforcement staff investigate possible breaches of CIRO rules and discipline firms and individuals when regulatory misconduct is identified. Discipline can include fines, suspensions, and permanent bans or termination for both individuals and firms.
Surveillance teams based in Montreal, Toronto, and Vancouver operate state-of-the-art technology to monitor equity markets in real time. If needed, the CIRO can halt trading in a stock and even cancel or adjust trades where market integrity is concerned. The surveillance teams also perform a review of cross asset trading between MX listed derivatives and the underlying securities on a next day basis. Surveillance also covers both IIROC dealer debt trading on a next day basis and newly added Canadian crypto asset trading platform activity.
What we stand for
Our mission is to promote healthy capital markets by regulating fairly and effectively so that investors are protected and confident investing in their futures. Our vision is to be an agile and trusted regulator—helping the industry deliver the right financial outcomes for investors.
Our Values
We Do What is Right
- We treat everyone with respect
- We are open and transparent
We are effective
- We believe in and are accountable for our important work
- We endeavour to go above and beyond
We Foster Inclusion
- We embrace diversity and recognize our differences can be our greatest asset to fuel innovation and growth
We are Forward-Thinking
- We leverage innovative technologies to stay ahead of the curve
- We celebrate those taking the initiative
By the numbers (As of fiscal year 2023-24)
Key Facts
Markets
CIRO regulates trading activity on 6 stock exchanges:
- Toronto Stock Exchange (TSX)
- TSX Venture Exchange (TSXV)
- Alpha Exchange (Alpha)****
- Canadian Securities Exchange (CSE)*
- NEO Exchange Inc. (NEO)**
- Nasdaq (CXC) Limited (Nasdaq Canada)***
CIRO regulates trading activity on 5 Equity Alternative Trading Systems:
- Omega ATS (Omega)
- Lynx ATS (Lynx)
- TriAct Canada Marketplace (MATCH Now)
- Liquidnet Canada Inc (Liquidnet)
- Instinet Canada Cross Limited (ICX)
* Canadian Securities Exchange operates 2 distinct books - CSE and CSE2
** NEO Exchange operates 3 distinct books - NEO-L, NEO-N and NEO-D
*** Nasdaq (CXC) Limited operates 3 distinct books - Nasdaq CXC (CXC), Nasdaq CX2 (CX2) and Nasdaq CXD (CXD)
**** Alpha Exchange operates 3 distinct books - Alpha, Alpha-X and Alpha DRK
Learn more about CIRO
Articles
What CIRO does with Market Conduct Complaints
Have you ever wondered what happens when there is a complaint about potential misconduct in the capital markets?