In a presentation to the International Councils of Securities Associations in Paris, the Investment Dealers Association reveals some of the improvements it intends to make to its regulatory function.

The IDA says, “Following a strategic and operational review of the enforcement operations of the IDA, a strategic decision was taken to assume a more proactive and transparent approach to investor protection.”

To that end, it notes that statements of allegations, notices of hearings and settlement agreements are going to be made public through the IDA’s Web site and in news releases.

The IDA promises to do a better job of tracking client complaints and settlements. Its says its by-laws will be amended to require firms to file quarterly reports detailing client complaints and the content of settlements between clients and reps. The nature of the complaint and the identity of the rep and the client will be part of these reports.

Also, in an attempt to improve investor service, a 1-800 number for complaints is being installed, and a standardized investor complaint has been developed. It will be posted on the IDA’s Web site, and is expected to help speed the assimilation of complaints.

The IDA also notes that the severity of penalties for securities infractions has been raised over the past few years, to meet regulators’ and investors’ demands. The presentation goes on to summarize the current economic and regulatory situation in Canada and the Canadian securities markets.