CSA Position Paper 25-404 - New Self-Regulatory Organization Framework
CSA Position Paper 25-404 - New Self-Regulatory Organization Framework August 3, 2021 1. Introduction In December 2019, a Canadian Securities Administrators (CSA) working group (the Working Group1) was formed to conduct an in-depth review of the current framework for the two Self- Regulatory Organizations (SROs) – the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).2 Since then, as part of this SRO Framework Review Project (the SRO Project), the Working Group has completed extensive stakeholder consultations, collected data and conducted research relevant to the assessment of the current regulatory framework, and developed and executed a methodology to identify, evaluate and rank the options for addressing the issues identified within the current SRO framework. To date, all of the Working Group’s activities have been completed in accordance with its project timeline, including the publication of this CSA Position Paper (the Position Paper). Below, is a detailed breakdown of key steps in the SRO Project to date: On December 12, 2019, the CSA issued a news release announcing its comprehensive review of the regulatory framework for IIROC and the MFDA. In late 2019 and early 2020, the Working Group completed informal consultations with a wide variety of stakeholder groups to solicit views regarding the current SRO regulatory framework. On June 25, 2020, the CSA Consultation Paper 25-402 Consultation on the Self- Regulatory Organization Framework (the Consultation Paper)
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