The Investment Industry Regulatory Organization of Canada (IIROC) has just released its 2014-15 Annual Report. As the accompanying news release indicates, the 56-page report recaps a number of important achievements during the period, including the following:
- Finalization of the Debt Transaction Reporting Rule, which allows for better regulatory oversight of Canadian debt markets;
- Research on the effectiveness of know-your-client policies;
- Continuing to focus on high-quality empirical research on the impact of High Frequency Trading and similar activities in Canada’s marketplace;
- Approval of the last set of Client Relationship Model(CRM) reforms, which will be implemented over the coming years;
- Initiation of a strategic planning process to flag emerging issues and develop priorities and strategies moving forward; and
- Publishing of final guidance outlining common due diligence practices and suggestions for IIROC regulated firms involved as underwriters in the offering of securities to the public.
Among other interesting statistics, the report notes that in 2014-15 IIROC oversaw 187 members (and more than 28,000 approved persons) while monitoring 431 million trades and effecting 1,259 trading halts, 99 cease-trades, 13 single stock circuit breakers, 42 trade variations or cancellations, 22 suspensions and 10 permanent bans.