IIROC forms crypto-asset working group

By The IJ Staff, published on Nov. 1, 2019, noon

CSE IIROC Regulation and compliance Technology

Source: Freepik

The Investment Industry Regulatory Organization of Canada (IIROC) introduced the members of its new crypto-asset working group this week. The group is expected to provide advice on any future proposed IIROC rules, guidance and other policy matters related to the regulation of crypto-assets, and advise on how crypto assets and the rules governing them may affect investor protection and market integrity.

IIROC initially put out its call for participants back in May. The group is mandated to review proposals and make recommendations to staff and IIROC’s president regarding the regulation of crypto-assets to ensure they adequately address market integrity and investor protection concerns and to ensure rules are practicable and cost-efficient.

Members of the 19-person panel were selected for their expertise or knowledge about trading or regulation of crypto-assets, for their understanding of different marketplace trading rules and for their experience with securities dealers of varying sizes and lines of business. The group of trading representatives, investor representatives, legal and compliance representatives and independent representatives were first solicited to participate shortly after IIROC and the Canadian Securities Administrators published a consultation paper seeking input from stakeholders on how regulatory requirements could be tailored for crypto-asset trading platforms operating in Canada.

“It is important that IIROC continues to assess how regulatory requirements might be best tailored for crypto-assets,” says Victoria Pinnington, IIROC’s senior vice president of market regulation. “This group of diverse industry members will better position IIROC to support industry transformation while ensuring we deliver on our mandate to protect investors.”

The Crypto-Asset Working Group members are: