The Investment Industry Regulatory Organization of Canada (IIROC) is looking for advice on how it should structure an Expert Investor Issues Panel (EEIP) aimed at adding ongoing investor input into IIROC’s regulatory activities.
“The EIIP will be a critical, additional layer to the efforts already conducted by IIROC to gauge the public's views on regulatory initiatives and/or other public interest matters,” the regulator said.
IIROC has conducted retail investor research since 2017 using an online investor panel made up of 10,000 individuals. With this method, IIROC has completed several surveys with retail investors on topics such as access and barriers to financial advice, the protection of vulnerable investors, and more generally on their awareness, understanding and perception regarding the regulation of the investment industry.
How should new EIIP be composed?
IIROC is particularly interested in the public’s views on how the new EIIP should be composed, the selection process for input, term limits and governance.
IIROC is also conducting qualitative research with investors who have complained directly to it to gain better insight into their experiences and perceptions of the complaint-handling process, and to help them better navigate the regulatory system.
IIROC said creating a pan-Canadian investor-focused panel will further enhance investor outreach efforts and serve as an additional forum that will provide a strong voice for investors and help IIROC accomplish its goal of investor protection.