As of January 1, 2023, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA) ceased to exist. These self-regulatory organizations were replaced by an amalgamated SRO named New Self-Regulatory Organization of Canada, or “New SRO”. New SRO is the only pan-Canadian securities regulator, governing the conduct and operations of former IIROC and MFDA registrants across the country. While the integration process is expected to take some time, this bulletin provides some short-term expectations and longer-term trends about enforcement by this new regulator.
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