The Investment Industry Regulatory Organization of Canada (IIROC) is reorganizing its policy committee structure.

IIROC, which was created by the merger of the Investment Dealers Association of Canada and Market Regulation Services Inc., undertook a comprehensive review of the mandate and structure of all of the former IDA policy advisory committees in preparation for the merger.

“The objective of this review process was to streamline, update and better focus the committee mandates to ensure their continuing efficient and effective contribution to the development of IIROC Dealer Member Rules,” the organization stated in a notice.

Based on this review, nine of the policy advisory committees/sub-committees have been disbanded, and six committees are being continued.

The Compliance and Legal Section and the Financial Administrators Section will continue as “open” membership committees (their membership is open to all dealer members). The Corporate Finance Committee, the Education and Proficiency Committee, Fixed Income Committee and the Private Client Advisory Committee will continue as “structured” membership committees with the overall committee size limited to 15 members.

“Policy advisory committees have played — and will continue to play — a vital role in the area of policy development. Use of policy advisory committees helps to ensure that policy initiatives are practical, balanced and achieve clearly-articulated regulatory objectives in a cost-effective and efficient manner,” IIROC stated.

Nominations and requests for re-appointment to the continuing committees should be sent by August 29.