As of January 1, 2023, the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) came together as the New Self-Regulatory Organization of Canada (New SRO). The newly amalgamated organization advised that New SRO would be an interim placeholder name until consultations could be completed for a new official name later in 2023.
On March 31, 2023, the New SRO released the much-anticipated proposal for its new official name, the Canadian Investment Regulatory Organization (CIRO) or Organisme canadien de réglementation des investissements (OCRI) in French. The new name also comes with a new logo and branding. According to the information circular, the New SRO believes the new name will resonate with all stakeholders and foster a strong sense of confidence in the New SRO’s mission.
On April 24, 2023, members of the New SRO voted in favour of adopting the new name and branding. While the new name still requires approval by provincial and territorial securities regulators, the New SRO is hopeful that the new name can be rolled out around June 1, 2023. Assuming the name is approved by the required securities regulators, dealer firms will then have until December 31, 2024, to incorporate the new name and logo on required disclosures in place of the existing MFDA and IIROC logos.
April 28, 2023