Savings Potential: Report On IIROC's Vision Of A Shared Future With MFDA

The Investment Industry Regulatory Organization of Canada (IIROC) engaged Deloitte to assess the benefits and costs of consolidating the Mutual Fund Dealers Association of Canada (MFDA) and IIROC into a single regulatory framework on IIROC's proposed consolidation (IIROC's Consolidation Scenario).

Deloitte recently published their report, which suggests close to half a billion dollars' worth of potential savings over a decade for Canada's investment firms and their clients by utilizing IIROC's Consolidation Scenario.

BACKGROUND

IIROC and MFDA have proposed separate paths to reform their regulatory frameworks so that the frameworks are more client-facing, more efficient and less burdened. Both organizations agree that consolidation is a great way of achieving these goals. However, the two organizations envision consolidation differently.