CIRO issues Compliance Priorities Report helping firms fulfill regulatory requirements

March 13, 2024 (Toronto) – The Canadian Investment Regulatory Organization (CIRO) published its 2024 Compliance Priorities Report, Helping Firms with Compliance, which summarizes current issues that Members regulated by CIRO should focus on to promote investor protection and foster market integrity. The report also outlines initiatives that will support innovation and transformation in the industry.

The main goal of the report is to help our Member Firms focus their supervision and risk-management efforts to ensure they comply with CIRO’s regulatory requirements.

"CIRO’s Compliance Priorities Report helps Members focus their supervision and risk-management efforts to comply with our regulatory requirements in a way that is appropriate for their unique business models,” said Andrew J. Kriegler, President and CEO, CIRO.

Highlights from the report include:

• Cybersecurity
• Client Identifiers
• Client Focused Reforms
• Experience Requirements for Supervisors; and
• Review of Business Transactions

Also new for this year the report highlights some upcoming changes to the compliance program as a result of the integration of the former mutual fund and investment dealer compliance teams. Members will start seeing some of those changes as early as April.

“CIRO will continue to focus on investor protection, while promoting healthy capital markets,” said Kriegler. “The Compliance Priorities Report together with regular contact, and other supplemental materials such as webcasts help our firms focus their compliance efforts in a rapidly shifting regulatory landscape.”