On August 3, the Investment Industry Regulatory Organization of
Canada (IIROC) released a new strategic plan for 2012-2015. The plan
sets out IIROC's strategic goals for the next few years, namely
(i) promoting a culture of compliance; (ii) promoting the
protection of the investing public; (iii) delivering effective
and expert regulation; (iv) strengthening the fairness,
integrity and competitiveness of the Canadian capital markets;
(v) acting in an accountable, transparent and fair manner;
(vi) being a cost-effective and efficient organization; and
(vii) being an employer of choice.
Of particular interest, the plan provides information regarding
the steps IIROC will take to promote a culture of compliance,
including monitoring dealers' evolving service offerings,
undertaking periodic industry-wide compliance audits and surveys
(including to review compliance with best execution obligations and
policies relating to management of conflicts in distribution of
non-arm's
