Regulator seeks new partner for long-term advisory relationship

Canada's investment industry regulator has a spot on its advisory panel

Regulator seeks new partner for long-term advisory relationship
Steve Randall

The Canadian Investment Regulatory Organization (CIRO) has an opening for membership on its Investor Advisory Panel.

The panel is a key pillar of CIRO’s oversight of the industry and is made up of independent individuals selected with consideration of the backgrounds, experience, expertise, and geographic representation of candidates to ensure broad and diverse representation.

Members serve for a minimum of two years and the first cohort was announced in January 2023, chaired by former MFDA president Dorothy Sandford, FCPA, FCA, and some of the members will serve for three years to allow staggering of new members.

The panel meets at least quarterly, and members are expected to attend most meetings and the mandate includes providing input and advice on investor protection and access to advice initiatives with a view to addressing gaps relating to underserved investors and promoting diversity, inclusiveness, and equity. Independent research projects may be undertaken to assist CIRO to fulfil its public interest mandate.

The IAP was a core commitment made when establishing the investment industry’s new regulator which merged the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) and was named the Canadian Investment Regulatory Organization (CIRO) in April 2023.

The new vacancy is for a member located in Quebec who will be involved in the development of regulatory policy and advise CIRO staff on annual priorities, strategic plans, and other regulatory initiatives.

Applicants will need to demonstrate:

  • experience with investor issues as it relates to previous and/or existing role(s) (e.g., academic, investor/consumer advocate, public policy, retired industry members or regulators, etc.)
  • experience with investor issues as it relates to specific products and/or business models
  • any relevant regulatory experience
  • specific skills or experience relating to investor issues or specific investor groups (e.g., legal, research, underserved investors, vulnerable investors, etc.)
  • details regarding any existing or potential, actual or perceived conflicts of interest between your private interests and your potential future responsibilities as a member of the CIRO’s Investor Advisory Panel.

Those from marginalized and underrepresented groups are encouraged to apply but it is entirely voluntary if applicants wish to mention this in their applications.

Applications should be submitted by March 26, 2024, by email to [email protected]