The New Self-Regulatory Organization of Canada (New SRO) announced April 24 that its members have approved the name proposed for the organization. Going forward, the New SRO – named such since the amalgamation of the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Authority of Canada (IIROC) on January 1 this year – will continue as the Canadian Investment Regulatory Organization (CIRO).

Tim Hodgson, chair of the New SRO says it was important to develop the new name for the organization as quickly as possible to establish a clear and distinct identity. Members were asked to approve amendments to the certificate and articles of amalgamation, along with the restated By-Law No.1 of the corporation, to change the New SRO’s name to CIRO. They add that the name still requires approval by provincial and territorial securities regulators. 

“New SRO hopes to use the new name around June 1. Members will have until December 31, 2024 to make all necessary updates,” the announcement states.

The New SRO’s president and CEO, Andrew Kriegler adds “the two legacy SROs accomplished a tremendous amount over the years and everyone from those organizations should be very proud, but the new name and logo represent our future as a new organization and a new chapter for the industry.”