Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 14 DECEMBER 2017

CSA And IIROC To Consider Internalization

Stikeman Elliott LLP
Explore more from Stikeman Elliott LLP

In the face of stakeholder concerns about the internalization of order flow, the CSA and the IIROC have announced an investigation into current internalization practices in the current regulatory environment.

CanadaCorporate/Commercial Law
Stikeman Elliott LLP
Stikeman Elliott LLP
Author LinkedIn connections

In the face of stakeholder concerns about the internalization of order flow, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) have announced an investigation into current internalization practices in the current regulatory environment.

  • Internalization: where a broker fills an order to buy or sell stock from the firm's own inventory rather than routing the order to the market.

In addition to announcing the CSA and IROC's planned review, Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Staff Notice 23-319 Internalization in the Canadian Market also indicates that TMX Group is planning an industry roundtable. The CSA and IIROC will seek public consultation in the coming months.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The PULSE Report: Governance Of Ontario’s Electric Utilities And Implementation Of Required Changes

Ontario's PULSE report and Bill 140 propose sweeping governance reforms for municipally owned electricity distribution utilities and their holding companies, mandating independent boards and new capital planning requirements by 2027. These changes aim to attract institutional investment for $120 billion in infrastructure expansion, but will require utilities to restructure shareholder agreements, recruit new directors, and implement complex governance arrangements within an extremely compressed timeline.
CanadaCorporate/Commercial Law
Aird & Berlis LLP
Aird & Berlis LLP
Article

Charity And NPO Insights: Key Committee Recommendations For The 2026 Federal Budget

In September 2026, the House of Commons Standing Committee on Finance (the Committee) released its recommendations for the 2026 Federal Budget. While these recommendations do not form part of the Budget itself, they provide insight into current political policy priorities and proposals that may be reflected in future legislative and fiscal initiatives. In this article, we highlight several recommendations of particular relevance to charities and not-for-profit organizations, with a specific focus on the proposed social sector fund.
CanadaCorporate/Commercial Law
Cassels
Cassels
Article

October 2026 Amendments To Chambers Practice In British Columbia: What To Know

The amendments were developed with the input of stakeholders, including members of the judiciary, the legal profession, government ministries and the public, in response to ongoing concerns regarding chambers delays, scheduling inefficiencies, inaccurate time estimates, and matters that are set down for hearing but ultimately do not proceed as scheduled
CanadaCorporate/Commercial Law
Singleton Urquhart Reynolds Vogel LLP
Singleton Urquhart Reynolds Vogel LLP
Article

AUM Law Regulatory Update Newsletter: Brief News (October 2026)

The Canadian Investment Regulatory Organization (CIRO) is developing a series of three targeted compliance bulletins to help Dealer Members and Approved Persons apply the Client Focused Reforms (CFRs) in practice. The bulletins build on Joint CSA/CIRO Staff Notice 31-368 Client Focused Reforms: Review of Registrants’ Know Your Client, Know Your Product and Suitability Determination Practices and Additional Guidance, and respond to recurring deficiencies and areas of uncertainty identified through compliance examinations.
CanadaCorporate/Commercial Law
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP