This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Building A Culture Of Compliance - IIROC Issues Annual Consolidated Compliance Report

TORONTO, Dec. 4, 2012 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) today published its Annual Consolidated Compliance Report outlining its key examination priorities for 2012 - 2013.

"Building a culture of compliance is a strategic priority for IIROC," said Susan Wolburgh Jenah, President and Chief Executive Officer of IIROC.  "This compliance report is an important tool that we use to promote higher industry standards, improve investor protection and strengthen market integrity."

At a presentation made to the Annual Compliance & Legal Section (CLS) Compliance Conference held today at the Metro Toronto Convention Centre, IIROC reinforced the importance of IIROC-regulated firms having robust, effective compliance and risk control programs.

"At IIROC, we continue to enhance our compliance and examination program to reflect changes in market structure, business risk, investment products, demographics and identified corporate priorities," said Rosemary Chan, IIROC's Senior Vice-President, Member Compliance, General Counsel and Corporate Secretary, at the conference.

"This report highlights areas that our integrated exam teams will focus on in helping IIROC-regulated firms identify, manage and mitigate potential enterprise-wide risks."

Current areas of focus include Know-Your-Client documentation, non-arm's length investment products, capital and liquidity risk management, outsourcing and electronic trading controls.

IIROC uses a risk-based methodology to allocate regulatory resources to firms and issues that have a higher potential to cause risk and to assist firms in identifying areas where they should be devoting their supervision, compliance and risk management efforts.

While the report also lists common areas that require improvement from the previous examination cycle, almost all significant findings are resolved by firms within the period of time prescribed by IIROC.

"We will continue to work with the industry to raise the bar, instill investor confidence and promote the long-term health of our capital markets," said Ms. Wolburgh Jenah.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs