Latest news with #AlexandraWilliams
CTV News
5 days ago
- Business
- CTV News
Do-it-yourself investors could get expanded supports under new proposal
TORONTO — A new proposal could allow do-it-yourself investors to get more support from dealers currently restricted from doing so. The Canadian Investment Regulatory Organization (CIRO) says proposed changes to its rules could help create more reliable sources of information as investors are increasingly relying on social media, forums and so-called finfluencers for education. The organization says the changes would mean that order-execution-only dealers like online trading platforms would have more freedom to provide more supports like educational resources, sample portfolios and self-assessment tools. Alexandra Williams, senior vice-president of stakeholder protection at CRIO, says relying on unverified source of information could put investors at serious risk of financial harm. She says the new approach gives dealers more flexibility to innovate while maintaining safeguards, which would include avoiding material conflicts of interest and making the limitations of any supports clear to clients. CIRO is accepting comments on the proposal until Nov. 10 and has flagged updating the rules as a priority for 2026. This report by The Canadian Press was first published Aug 12, 2025.
Yahoo
5 days ago
- Business
- Yahoo
Do-it-yourself investors could get expanded supports under new proposal
TORONTO — A new proposal could allow do-it-yourself investors to get more support from dealers currently restricted from doing so. The Canadian Investment Regulatory Organization (CIRO) says proposed changes to its rules could help create more reliable sources of information as investors are increasingly relying on social media, forums and so-called finfluencers for education. The organization says the changes would mean that order-execution-only dealers like online trading platforms would have more freedom to provide more supports like educational resources, sample portfolios and self-assessment tools. Alexandra Williams, senior vice-president of stakeholder protection at CRIO, says relying on unverified source of information could put investors at serious risk of financial harm. She says the new approach gives dealers more flexibility to innovate while maintaining safeguards, which would include avoiding material conflicts of interest and making the limitations of any supports clear to clients. CIRO is accepting comments on the proposal until Nov. 10 and has flagged updating the rules as a priority for 2026. This report by The Canadian Press was first published Aug 12, 2025. The Canadian Press Sign in to access your portfolio
Finextra
11-07-2025
- Business
- Finextra
Canadian Investment Regulatory Organization white paper tackles account transfers
The Canadian Investment Regulatory Organization (CIRO) has issued a white paper that offers regulatory and technological solutions to improve account transfers, a major source of frustration for investors. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The financial system in Canada faces significant inefficiencies in account transfers, largely due to outdated processes, inconsistent standards, and fragmented communication. Delays in account transfers can disrupt financial planning and lead to adverse financial consequences for investors, including missed investment opportunities. Account transfers are also a persistent operational frustration for financial institutions as well. Addressing these delays is critical for enhancing the Canadian capital markets system and improving investor outcomes. 'Account transfers are consistently a top complaint that CIRO hears from investors and Member firms alike,' said Alexandra Williams, Senior Vice-President, Strategy, Innovation, and Stakeholder Protection at CIRO. 'Modernizing the account transfer system is an important way by which CIRO can improve investor outcomes and reduce frustration, but also enhance the effectiveness and efficiency of the industry – both key commitments of our strategic plan.' Modernizing account transfers will require a multi-faceted approach that includes automation of systems, standardization of transfer procedures, and harmonization of regulations. CIRO's work to support this effort takes a two-phased approach: Phase 1: Defining the Problem & Laying the Groundwork for Change Phase 2: Implementing Solutions & Driving Industry-Wide Adoption The Phase 1 white paper, released today, examines the root causes of account transfer issues and presents both immediate and long-term solutions, including rule amendments and recommendations to enhance firm transfer operations. Also released today are proposed rule amendments which, if adopted, will require all CIRO Dealer Members to use automated systems for eligible transfers and clarify that electronic communications must be used where available. They also stipulate the timeline for the receiving dealer to inform the client of transfer impediments and set a standard settlement period of 10 clearing days for account transfers (including for transfers with impediments). In addition, the Phase 1 white paper also offers a vision for an industry-wide technology solution, designed through a collaborative effort by institutions across the financial and investment industry, that would digitize the account transfer process and allow for real-time processing and standardized data formats. This new system promises to be open, interoperable, and transparent and would ensure a seamless data exchange across Canada's financial system. CIRO is inviting: comments on its proposed rule amendments proposals from interested firms seeking to develop the technology solution. Phase 2 of the white paper, which is expected in 2026, will provide updates on the progress, implementation strategies, and more wide-spread adoption of the regulatory standards and technology tool across the financial system.
Cision Canada
10-07-2025
- Business
- Cision Canada
CIRO issues white paper and publishes rule amendment proposals to improve account transfers Français
Proposed industry-wide technology solution and tighter account transfer timelines would address investor frustration when transferring accounts TORONTO, July 10, 2025 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) has issued a white paper that offers regulatory and technological solutions to improve account transfers, a major source of frustration for investors. The financial system in Canada faces significant inefficiencies in account transfers, largely due to outdated processes, inconsistent standards, and fragmented communication. Delays in account transfers can disrupt financial planning and lead to adverse financial consequences for investors, including missed investment opportunities. Account transfers are also a persistent operational frustration for financial institutions as well. Addressing these delays is critical for enhancing the Canadian capital markets system and improving investor outcomes. "Account transfers are consistently a top complaint that CIRO hears from investors and Member firms alike," said Alexandra Williams, Senior Vice-President, Strategy, Innovation, and Stakeholder Protection at CIRO. "Modernizing the account transfer system is an important way by which CIRO can improve investor outcomes and reduce frustration, but also enhance the effectiveness and efficiency of the industry – both key commitments of our strategic plan." Modernizing account transfers will require a multi-faceted approach that includes automation of systems, standardization of transfer procedures, and harmonization of regulations. CIRO's work to support this effort takes a two-phased approach: Phase 1: Defining the Problem & Laying the Groundwork for Change Phase 2: Implementing Solutions & Driving Industry-Wide Adoption The Phase 1 white paper, released today, examines the root causes of account transfer issues and presents both immediate and long-term solutions, including rule amendments and recommendations to enhance firm transfer operations. Also released today are proposed rule amendments which, if adopted, will require all CIRO Dealer Members to use automated systems for eligible transfers and clarify that electronic communications must be used where available. They also stipulate the timeline for the receiving dealer to inform the client of transfer impediments and set a standard settlement period of 10 clearing days for account transfers (including for transfers with impediments). In addition, the Phase 1 white paper also offers a vision for an industry-wide technology solution, designed through a collaborative effort by institutions across the financial and investment industry, that would digitize the account transfer process and allow for real-time processing and standardized data formats. This new system promises to be open, interoperable, and transparent and would ensure a seamless data exchange across Canada's financial system. CIRO is inviting: comments on its proposed rule amendments proposals from interested firms seeking to develop the technology solution. Phase 2 of the white paper, which is expected in 2026, will provide updates on the progress, implementation strategies, and more wide-spread adoption of the regulatory standards and technology tool across the financial system. The Phase 1 white paper and the proposed rule amendments are now available on CIRO's website. About CIRO The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit
Yahoo
25-06-2025
- Business
- Yahoo
CIRO Releases 2025 Enforcement Report
TORONTO, June 25, 2025 /CNW/ - Today, the Canadian Investment Regulatory Organization (CIRO) released its annual Enforcement Report highlighting the previous year's enforcement activities which include complaint intake, investigations and proceedings against dealers and approved persons who have contravened CIRO regulations. Enforcement is a key lever in deterring potential harmful conduct and sending strong regulatory messages to the industry. The report aims to bring transparency to CIRO's Enforcement actions by gathering together all CIRO proceedings from the previous year and showcasing the contraventions involved and the sanctions that were imposed. The report also showcases case highlights and key statistics about the activities of the Enforcement department and the kinds of complaints, investigations and cases CIRO has encountered in the past year. It provides visualization of the trends in regulatory violations, complaint sources, and the pan-Canadian coverage of both investigations and proceedings. "In the 2025 fiscal year, Enforcement identified and pursued cases with significant deterrent impact and sent a strong regulatory message to the industry about the consequences for violating regulations," said Alexandra Williams, Senior Vice-President, Strategy, Innovation and Stakeholder Protection. "The team continues to harmonize and create efficiencies that will help us tackle financial crimes, wrongdoing and increased complaints and inquiries." Since its founding, CIRO has been committed to regulatory evolution and harmonization. Highlights from the 2024-2025 Enforcement Report: Reviewed 4,127 complaints received from sources including the public, whistleblowers, ComSet/METS, commissions and other regulators, and internal CIRO departments such as Surveillance, Compliance and Member Registration. Conducted 176 investigations with 34% referred for prosecution. Completed 57 enforcement proceedings. Imposed $10,313,381 in fines, costs and disgorgement. Significant achievements in the past year also include transforming the event reporting system used by mutual fund dealers to ComSet. Enforcement transitioned to a single document management system and a single case management system, harmonizing legacy interfaces. The team launched a new E-Discovery and Evidence team, increasing the capabilities and resources of the Enforcement department. SOURCE Canadian Investment Regulatory Organization (CIRO) View original content to download multimedia:
