On April 24, 2018, the Canadian Securities Administrators
published the Oversight Review Report of the Investment
Industry Regulatory Organization of Canada (Report). The Investment Industry Regulatory
Organization of Canada (IIROC) is a not-for-profit self-regulatory
organization that regulates investment dealers and trading on
Canada's capital markets with a view to protecting investors
and maintaining fairness and order in the market.
To assess the risks associated with IIROC's operations and
to ultimately hold IIROC accountable for its internal controls and
procedures, the provincial securities regulators conduct an annual
risk-based oversight review of a number of IIROC's processes.
The most recent review, covering the period from August 1, 2016 to
August 31, 2017 (Review), was conducted by eight of the provincial
securities regulators, namely, the British Columbia Securities
Commission, the Alberta Securities Commission, the Financial and
Consumer Affairs
