The Investment Industry Regulatory Organization of Canada has published a brochure to inform investors about IIROC’s regulatory mandate and responsibilities, specifically its role in investor protection.

“Recent events have underscored the importance of knowing if an individual or firm is registered and subject to regulatory oversight,” says Susan Wolburgh Jenah, IIROC CEO and resident.

“IIROC has developed this brochure to inform investors about the protection that IIROC’s regulatory oversight provides. It also provides directions on how to check the registration status of a firm and individual.”

The brochure explains how IIROC sets and enforces rules regarding the proficiency, business and financial conduct of IIROC-regulated firms and their registered employees. It provides information on IIROC rules that firms must comply with to minimize the possibility of financial failure and protect client assets if a firm becomes insolvent. It also explains how IIROC requires firms to have procedures to supervise client accounts and ensure that advice and transactions reflect clients’ needs and instructions.

The brochure encourages investors to take advantage of the resources and information available on IIROC’s web site, including:

• whether a firm or advisor is registered with and regulated by IIROC;
• how customers’ assets are protected in the event of firm insolvency;
• making a complaint to an IIROC-regulated firm or to IIROC itself; and
• the options available to clients of IIROC-regulated firms who are seeking compensation.

IE