News Centre

IIROC’s Submission To The Ontario Government’s Consultation On Financial Advisory And Financial Planning Policy Alternatives​ ​

Date 22/09/2015

Introduction

IIROC is a national public interest self-regulatory organization, with offices in Toronto, Montreal, Calgary and Vancouver, overseeing all investment dealers and trading activity on debt and equity markets across Canada. Our jurisdiction extends to approximately 180 investment dealers and their roughly 28,000 individual registrants - almost 14,000 of whom are in Ontario. Our employees are on the front lines, setting and enforcing rules regarding the proficiency, business and financial conduct of IIROC-regulated firms and their registered employees. 

Eagle Investment Systems LLC: Survey Reveals Urgency Of Data Governance Projects Among Financial Services Firms, Though Formal Initiatives Still Largely Nascent Across Industry

Date 22/09/2015

Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, together with WatersTechnology, has released a white paper offering new research on where the market currently stands in relation to the implementation of formal data governance policies. The research reveals that only a small minority of global financial services firms can claim to have a mature data governance strategy in place. However, the survey also found that more than 80% of survey respondents believe their organizations recognize the value of data as an asset and over 40% view the implementation of a formal data governance strategy as an immediate priority.

The Importance Of Being Earnest[1] About Liquidity Risk Management, SECCommissioner Luis A. Aguilar, Sept. 22, 2015

Date 22/09/2015

The fund industry has witnessed substantial changes in recent years, including the rise of novel investment strategies, a growing use of derivatives, and an increased focus on assets that, traditionally, have been less liquid.  Unfortunately, it appears that not all funds’ liquidity risk management practices have kept pace with these developments.

SIFMA AMG Statement On SEC Proposed Rules For Liquidity Risk Management Programs

Date 22/09/2015

SIFMA’s Asset Management Group (SIFMA AMG) issued the following statement from Timothy Cameron, managing director and head of SIFMA AMG, after the Securities and Exchange Commission (SEC) announced proposed rules for liquidity risk management programs for asset managers of mutual funds and other open-ended investment funds: 

"SIFMA AMG supports the Securities and Exchange Commission’s review of asset manager products and activities and shares the SEC’s goal of promoting resiliency and transparency in the capital markets. These rules have the potential to provide asset managers with important new tools to complement existing robust practices for managing assets in a stressed market environment.

Lara Shalov Mehraban Named Associate Director For Enforcement In SEC’s New York Regional Office

Date 22/09/2015

The Securities and Exchange Commission today announced that Lara Shalov Mehraban has been named Associate Regional Director for Enforcement in the agency’s New York Regional Office. 

CFTC Approves Supplement To Proposed Rulemaking To Modify The Aggregation Provisions Of Its Position Limit Rules

Date 22/09/2015

The U.S. Commodity Futures Trading Commission (Commission) today approved for public comment a supplement to its November 2013 proposal to modify the policy for aggregation under the Commission’s position limits regime for futures and option contracts in Part 150 of its regulations. As noted then, if the Commission’s proposed position limits regime for 28 exempt and agricultural commodity futures and options contracts and the physical commodity swaps that are economically equivalent to such contracts are finalized, the proposed modifications would also apply to aggregation under the position limits regime for those contracts and swaps.

SEC Charges Investment Adviser With Failing To Adopt Proper Cybersecurity Policies And Procedures Prior To Breach

Date 22/09/2015

The Securities and Exchange Commission today announced that a St. Louis-based investment adviser has agreed to settle charges that it failed to establish the required cybersecurity policies and procedures in advance of a breach that compromised the personally identifiable information (PII) of approximately 100,000 individuals, including thousands of the firm’s clients.  

EBA: Consultation On Guidelines On The Application Of The Definition Of Default (EBA/CP/2015/15)

Date 22/09/2015

The European Banking Authority (EBA) launched today a consultation on its draft Guidelines specifying the application of the definition of default. The work is in line with an EBA Discussion Paper on the topic published earlier in the year which described the EBA's upcoming work on improving consistency and comparability in capital requirements. The consultation runs until 22 January 2016 and the EBA is also asking the public for feedback on a Quantitative Impact Assessment (QIS) of the Guidelines.

SEC Proposes Liquidity Management Rules For Mutual Funds And ETFs

Date 22/09/2015

The Securities and Exchange Commission today voted to propose a comprehensive package of rule reforms designed to enhance effective liquidity risk management by open-end funds, including mutual funds and exchange-traded funds (ETFs). 

BATS Global Markets Successfully Operates U.S. Businesses From Local Disaster Recovery Site As Part Of Business Continuity Planning Process - Company Headquarters Taken Completely Offline for Test of Business Continuity Plan on September 17th

Date 22/09/2015

BATS Global Markets (BATS), a leading operator of exchanges and services for financial markets globally, today announced the successful and total operation of its U.S. markets from its Kansas City-area disaster recovery (DR) site on Thursday, September 17th as part of its Business Continuity Planning (BCP) process.