IIROC president and CEO Andrew J. Kriegler said the new organization is important for the financial future of Canadians. The CSA said the new organization will harmonize IIROC and MFDA rules where appropriate and streamline complaint processes. The umbrella group for Canada's securities regulators also said it will combine two existing investor protection funds — the Canadian Investor Protection Fund and the MFDA Investor Protection Corporation — into an integrated fund independent of the new organization. "The CSA recognizes the high level of skill, dedication and experience that staff from IIROC, MFDA and the existing investor protection funds have consistently brought to their work," Morisset said. "The combined forces of these teams will be critical during the creation of the new self-regulatory organization and investor protection fund, and will be crucial to their future success."

Source: CBC News August 04, 2021 12:45 UTC