Investment dealer regulator to focus on oversight of new business models for 2019

Investment dealer regulator to focus on oversight of new business models for 2019
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TORONTO — Canada’s investment dealer regulator says its priorities for next year include a focus on how to oversee blockchain-based services and added surveillance to catch suspicious market activity.

The Investment Industry Regulatory Organization of Canada says priorities also include alternative forms of disciplinary action for more flexible and timely enforcement, more guidance on compensation-related conflicts and cybersecurity self-assessments.

IIROC CEO Andrew Kriegler says the regulator needs to adapt its capabilities to oversee new innovations and business models in debt and equity market sales.

The regulator says the new surveillance system will support advanced analytics and can track activity across multiple assets and dealers to more easily identify suspicious market activity.

Its work on blockchain regulations include finishing an industry consultation on the evolution of investment advice, and preparing to regulate industry services.

IIROC is the national self-regulatory organization that oversees all investment dealers and their trading in Canada’s debt and equity markets.

The Canadian Press

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