Proposal to Modernize the CIRO Arbitration Program

On December 6, 2022, the Investment Industry Regulatory Organization of Canada (IIROC), a predecessor organization to the Canadian Investment Regulatory Organization (CIRO), published Notice 22-0187 seeking comments on the recommendations made by an independent working group (Working Group) on, at that time, the IIROC (now CIRO) Arbitration Program (Program). IIROC amalgamated with the Mutual Fund Dealers Association of Canada (MFDA) to form the New Self-Regulatory Organization of Canada (New SRO) on January 1, 2023. New SRO changed its name to become the Canadian Investment Regulatory Organization (CIRO) on June 1, 2023.

We received twelve comment letters from various stakeholders through the consultation. We thank all commenters. Copies of the comment letters are publicly available on the CIRO website. Appendix A provides a summary of the comments received and our responses.