The Ontario Securities Commission announced that, effective 1 April 2025, it has delegated additional registration-related powers and duties to the Canadian Investment Regulatory Organization (CIRO), making CIRO responsible for registering investment dealers, mutual fund dealers, futures commission merchants and individuals acting on their behalf. The delegation is intended to streamline and harmonize the registration process by removing duplication and reducing the regulatory burden for registrants in Ontario. The OSC said it will maintain oversight of CIRO’s performance through a risk-based framework. The move aligns with a recommendation of the Capital Markets Modernization Taskforce (January 2021), and the Canadian Securities Administrators issued a separate release outlining its plans for CIRO delegation.
Ontario Securities Commission 2025-04-01
Ontario Securities Commission delegates dealer and futures commission merchant registration powers to CIRO
As of 1 April 2025, the Ontario Securities Commission has delegated more registration-related powers to the Canadian Investment Regulatory Organization (CIRO), making it responsible for registering investment dealers, mutual fund dealers, futures commission merchants, and related individuals. This aims to streamline the registration process and reduce regulatory burdens in Ontario, with the OSC maintaining oversight through a risk-based framework. The move aligns with the Capital Markets Modernization Taskforce's recommendations.