CIRO released its Annual Public Priorities for Fiscal Year 2026 (April 1, 2025 to March 31, 2026). The Annual Priorities CIRO is focused on are developed across three key themes: Integration, Regulatory Delivery and Operations and Strategic Objectives. CIRO’s 2026 Annual Priorities mark the beginning of the second year of CIRO operations, guided by CIRO’s three-year Strategic Plan.

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Investor advocates are calling on Canadian Securities Administrators (CSA) regulators to ban advisor chargebacks and revise the principal distributor model in Canada’s mutual fund market. Principal distributors are investment dealers that receive exclusive rights to sell mutual funds from a single fund family.

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The Ontario Securities Commission (OSC) published OSC Rule 81-510, replacing temporary exemptive relief of continued payment of trailing commission rebates to investors in accounts held at order-execution only (OEO) dealers. The Rule permits the continued payment for rebated trailer commissions, effectively codifying the transitional relief into a rule and comes into force by June 17, 2025.

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Effective April 1, 2025. The Nova Scotia government has introduced a new Life Income Fund (LIF) and has made modifications to unlocking policies affecting Locked-In Retirement Accounts (LIRAs) and Life Income Funds (LIFs). Individuals transferring funds to a life income fund (LIF), at age 55 or older, will have the one-time ability to unlock up to 50% of their locked-in pension funds

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CIRO set out the fifth, and final, set of proposed rule changes as part of its ongoing project to harmonize the rules for fund dealers and investment dealers. The latest set of rule proposals covers client complaint handling, outsourcing arrangements, continuing education, complaints, client reporting, solvency, client assets and financing agreements. Comments should submitted in writing, by June 25, 2025.

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Advocis is focusing on title protection harmonization, as part of its advocacy agenda this year. There is a push for greater proficiency for the financial advisor (FA) title and harmonization with other jurisdictions. Title protection discussions have been ongoing among credentialing bodies, including FP Canada.

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CIRO has scheduled the next biennial industry business continuity planning (BCP) trading simulation test for Saturday October 25, 2025. CIRO staff will contact all participant dealers in April 2025 to confirm their required level of participation in the 2025 industry BCP test.

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The Investment Funds Institute of Canada, (IFIC) is starting a new chapter of its story with a new name. Effective immediately, IFIC has its name to the Securities and Investment Management Association, (SIMA) reflecting an expanded mandate as the leading voice for capital markets participants and investment and mutual fund dealers.

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Members of CIRO Regional Councils invite Dealer Members to nominate candidates for election to the Regional Councils in each Region annually, where the Dealer Member has offices. Please submit completed Nomination forms along with the individual’s resume, no later than April 14, 2025.

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IIROC has developed a cybersecurity self-assessment tool (self-assessment tool) primarily for small and medium- sized dealer members. The purpose of the self-assessment tool is to help dealer members assess their own cybersecurity preparedness and identify areas of strength and weakness, based on their information security practices.

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