Industry practitioners, legal and compliance experts, and other professionals step up to support development of tailored regulation
Shortly after its joint statement with the Canadian Securities Administrators (CSA) announcing regulatory guidance for crypto-asset trading platforms (CTP), the Investment Industry Regulatory Organization of Canada (IIROC) has welcomed new members to its crypto-asset working group.
The group is composed of industry practitioners, legal and compliance experts, academics, and other professionals who may assist its understanding of how securities legislation might apply to the maturing crypto market. With their collective expertise, the group will assist IIROC with advice on proposed rules, guidance and other policy matters related to the regulation of crypto-assets and the potential impact on IIROC’s investor protection and market integrity objectives.
“We must continue to rethink the way we regulate in order to support innovation – all while ensuring investors are protected,” said Victoria Pinnington, IIROC's senior vice-president, Market Regulation and chair of the working group.
The group is expected to make recommendations on crypto assets, particularly to ensure they adequately address market integrity and investor protection concerns, on top of being in the public interest. They are also tasked to help ensure that the regulation of crypto assets is practicable and cost efficient both from the perspective of marketplaces trading crypto-assets and persons trading on such marketplaces.
The members of the crypto-asset working group include:
- Frank Barillaro (The Everton Carlisle Group Inc.);
- Brandon Boyd (Questrade Inc.);
- Torstein Braaten (Instinet Canada Ltd);
- Ryan Clements (University of Calgary);
- Shaun Cumby (Arxnovum Investments Inc.) ;
- Laure Fouin (McCarthy Tetrault LLP);
- Robin Ford (Robin Ford Consulting);
- Sandra Jakab (Finhaven Private Markets) ;
- Jason Jardine (Leede Jones Gable Inc.);
- Ryan Leopold (PricewaterhouseCoopers LLP) ;
- Julie Mansi (Borden Ladner Gervais LLP);
- Hashim Mitha (MeetAmi Innovations Inc.);
- Linda Montgomery (Blockstation);
- Brian Mosoff (Ether Capital);
- Ash Navabi (Blockchain Technologies Coalition of Canada)
- Louis Roy (Raymond Chabot Grant Thornton)
- Dean Skurka (Bitbuy)
- Dino Verbrugge (DV Trading LLC / Independent Trading Group (ITG) Inc.)
“With this new group of diverse members, IIROC will continue its work assessing how our regulatory requirements might be best tailored for crypto-assets,” Pinnington said.