CIRO releases Annual Report for 2025 fiscal year, Investor Advisory Panel also issues Annual Report

Provides status update on Annual Priorities, key objectives from three-year Strategic Plan

September 8, 2025. Toronto, ON. The Canadian Investment Regulatory Organization (CIRO) has published its Annual Report for the 2025 fiscal year, marking substantial progress on Integration initiatives and key achievements on the organization’s three-year Strategic Plan.

“In the 2025 fiscal year we were able to make significant advances in our Integration efforts, including publishing Phase five of our rulebook consolidation for comment, and closing out the books on cost recovery for Integration, which was two years ahead of schedule,” said Andrew Kriegler, President and CEO, CIRO. “In the past fiscal year, we laid much of the groundwork necessary to respond to challenges now facing the Canadian economy, and we remain committed to fostering a more effective and efficient system.”

Key highlights from the Annual Report

• CIRO received additional enforcement powers in Ontario;
• Québec adopted Bill 92 which will, before July 4, 2026, transfer additional powers to CIRO;
• Additional jurisdictions delegated powers of registration to CIRO on April 1, 2025, increasing harmonization across the industry;
• Progress on Priorities in support of the three-year Strategic Plan:
  • 65% completion of Integration initiatives following amalgamation;
  • 65% completion of Market Regulation initiatives;
  • 50% completion of Registration and Proficiency initiatives;
• More than 100,000 registrants, across 245 Dealer Member firms;
• More than $5 trillion in trade value overseen by market surveillance;
• 176 Enforcement investigations completed;

CIRO’s Investor Advisory Panel (IAP) - Annual Report

Each year, the Investor Advisory Panel (IAP) publishes its Annual Report, which outlines the actions and role the advisory panel plays on behalf of Canadian investors and to CIRO.

The IAP is a unique and diverse panel of experts in investor issues from across Canada that advises CIRO in the development of regulatory policy, annual priorities, strategic plans, and other regulatory initiatives.

Learn more about their work, mandate and members, in the Annual Report or dedicated webpage.