The Financial Consumer Agency of Canada (FCAC) and the Investment Industry Regulatory Organization of Canada (IIROC) have inked a memorandum of understanding (MOU) to boost consumer protection.

Following the agreement, the watchdogs will share information for better oversight of regulated entities and individuals.

The two parties will also launch action against those regulated entities and individuals that fail to adhere to the required market and business conduct rules.

Commenting on the alliance, FCAC commissioner Lucie Tedesco said: “Collaborating and sharing information with regulatory partners such as the Investment Industry Regulatory Organization of Canada will help us keep pace with emerging trends and issues so that we can better protect financial consumers.”

IIROC president and CEO Andrew Kriegler added:” We are pleased to partner with FCAC and other regulators across the country to ensure compliance with our rules and to ensure that those we regulate cannot avoid sanctions and continue working in another area of the financial services industry.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.