In order to assist market participants to deal with the
challenges and changes in the capital markets experienced over the
last several years, IIROC is reviewing how it can fulfill its
regulatory mandate and adjusting its strategic objectives and
priorities for the upcoming year. In a Notice published on April
28, 2015, IIROC has set out its key priorities from now until March
One of IIROC's priorities is to continue to respond to the
2013 Member Survey, focusing on two key findings: timeliness of
compliance examination findings, and IIROC's consideration of
the potential impact and consequences of its regulatory actions on
Over the next year, IIROC will ensure its mandate is met through
setting high proficiency standards and education requirements,
rule-making, compliance examinations, enhanced surveillance, member
and investor education, proactive guidance and enforcement of rules
to hold dealers and registrants accountable for their actions.
IIROC will continue to take a risk-based approach to conduct
reviews of IIROC-regulated firms to foster a culture of
IIROC's strategic goals over the next year are to:
Promote a culture of compliance;
Protect and educate the investing public;
Deliver effective and expert regulation;
Strengthen the fairness, integrity, efficiency and
competitiveness of Canadian capital markets;
Act in an accountable, transparent and
Be a cost effective and efficient organization; and
Be an employer of choice.
To accomplish these goals IIROC has published a list of 27
activities and projects it will undertake over the next year that
fall under the following categories:
Member regulation projects;
Market regulation projects;
Responding to Member Survey;
Working with other regulators and stakeholders; and
Improving IIROC operations.
A detailed list of the projects and their timelines is available
in the Notice.
The foregoing provides only an overview and does not
constitute legal advice. Readers are cautioned against making any
decisions based on this material alone. Rather, specific legal
advice should be obtained.
Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).