IIROC AND MONTREAL EXCHANGE ENTER INTO NEW MOU
On January 24, 2022, the Canadian Securities Administrators (CSA) announced that the Investment Industry Regulatory Organization of Canada (IIROC) and the Montréal Exchange (MX) entered into a new Memorandum of Understanding (MoU) regarding cross-market surveillance of the securities and derivatives markets. The MoU is intended to broaden the cooperation between the two SROs beyond information sharing and includes roles and responsibilities for each SRO in such areas as cross-asset trading surveillance, investigation and enforcement activities, and the coordination of inspections.
The IIAC will be pursuing discussions with both regulators to find out how the MoU will be applied in practice and the potential considerations for IIAC members.
For additional information, please contact Jack Rando.