Securities regulators in Alberta, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, and Yukon have issued delegation orders authorizing the Canadian Investment Regulatory Organization (CIRO) to carry out specified registration functions for CIRO member firms and their sponsored individuals, effective 1 April 2025. The delegated scope covers firms registered as, or applying to register as, investment dealers and mutual fund dealers, and in Ontario also futures commission merchants, along with the individuals who act on their behalf. Following the delegation, participating Canadian Securities Administrators members will focus on enhanced oversight of CIRO, regulatory policy development, novel application issues, and exemptive relief applications. Quebec's Autorité des marchés financiers expects to publish its delegation order later in April for investment dealers, mutual fund dealers and derivatives dealers, with an expected effective date of 1 July 2025. The Financial and Consumer Affairs Authority of Saskatchewan, the Manitoba Securities Commission, and the British Columbia Securities Commission indicated they will proceed with delegation in due course, subject to necessary approvals, delegation orders or rule amendments.
Canadian Investment Regulatory Organization 2025-04-01
Canadian securities regulators delegate dealer and individual registration functions to the Canadian Investment Regulatory Organization
Securities regulators in several Canadian provinces and territories have authorized the Canadian Investment Regulatory Organization (CIRO) to perform registration functions for member firms and individuals, effective 1 April 2025. This applies to investment dealers, mutual fund dealers, and in Ontario, futures commission merchants. Quebec and other provinces plan to issue similar orders later, with Quebec's expected by 1 July 2025.