CIRO Publishes Proposals To Level The Advisor Compensation Playing Field

Since the integration of Canada's two capital markets self-regulatory organizations (SROs) — the Mutual Fund Dealers Association (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) — in January 2023, market observers, investors and SRO members have been waiting for the Canadian Investment Regulatory Organization (CIRO) to release its proposal as to how SRO rules would be consolidated. Earlier this year, CIRO published a consultation paper regarding policy options for leveling the advisor compensation playing field. The consultation paper proposes potential amendments to the Investment Dealer and Partially Consolidated Rules (IDPC Rules) to harmonize acceptable Approved Person compensation approaches.