Alert:
A nationwide postal strike or lockout may occur as early as November 3, 2024. Dealer Members must take steps to ensure that document delivery requirements prescribed under CIRO Rules continue to be met.
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.
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.
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.
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 are effective
We Foster Inclusion
We are Forward-Thinking
CIRO regulates trading activity on 6 stock exchanges:
CIRO regulates trading activity on 5 Equity Alternative Trading Systems:
* 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
Have you ever wondered what happens when there is a complaint about potential misconduct in the capital markets?