IIROC operates under Recognition Orders from the provincial and territorial securities commissions that make up the Canadian Securities Administrators (CSA). IIROC is the national self-regulatory organization for firms that are registered as investment dealers in Canada. In addition, it oversees all trading activity on debt and equity marketplaces in Canada.
IIROC carries out its regulatory responsibilities through setting and enforcing:
- rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees, and
- market integrity rules regarding trading activity on Canadian equity marketplaces
As provided for in the Industry Agreement between CIPF and IIROC, IIROC recommends an Industry Director for nomination to the CIPF Board.