Flat Illustration concept customer rating on tablets

The new industry self-regulatory organization will be undertaking a research project over the next couple of years that will collect detailed information on dealers’ retail portfolios.

The Canadian Investment Regulatory Organization (CIRO) said it will launch its own version of the client research project that the Mutual Fund Dealers Association of Canada (MFDA) pioneered with fund dealers in 2017. The MFDA also followed up with subsequent reports in 2020 and 2022.

CIRO said it’s planning to collect data from both fund dealers and investment dealers on their retail clients’ investment holdings for the year ending Dec. 31, 2024.

The data it collects “will not only be a key resource to CIRO as we set our regulatory priorities and initiatives but it will also be very beneficial to [dealers] to help deliver greater investor value,” it said in a release.

But first, the SRO intends to consult with the industry, starting next month, to get input on the project’s design.

“We will be contacting [dealers] with significant retail investor holdings to obtain feedback, recommendations and advice on how to make the report as beneficial as possible, and the process of collecting data, as efficient as possible,” the SRO said.

It’s aiming to finalize the project’s basic requirements by March 31, 2024.