The Investment Industry Regulatory Organization of Canada (IIROC) gives out a lot of fines, but in Ontario it collects relatively few of the ones levied against individuals. The regulator wants the law changed so that it can enforce its decisions in the province. It also wants to have immunity when performing its regulatory duties.
As part of the Ontario government’s pre-budget consultations, IIROC made a presentation to the province’s Standing Committee on Finance and Economic Affairs on Feb. 1. IIROC’s president and CEO Andrew Kriegler made a point of saying that he was not asking for any fiscal or funding measure to be included in this year’s Ontario Budget. Instead, the regulator wants legislative changes that will allow it to collect more of the fines it hands out.
ANDREW RICKARD – Insurance Journal – February 03, 2016.
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