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CIRO Investor Protection

How CIRO Protects Investors

The following information has been copied directly from a document provided by CIRO and is presented here for convenience only. We do not own this content and make no claim to authorship or copyright. For the most accurate and up-to-date information, please refer directly to the official CIRO document linked: How CIRO Protects Investors 

You are opening an account with a firm regulated by  Canadian Investment Regulatory Organization (CIRO). CIRO regulates the activities of Canadian investment dealers and mutual fund dealers and the advisors they employ.

CIRO works to protect investors. Here is how:

Rules and Standards 

  • CIRO sets rules for the firms and advisors we regulate, from conduct rules regarding the handling of your account to capital requirements to reduce the risk of a firm insolvency to how your firm trades on a marketplace. These rules protect investors like you.

Oversight 

  • We conduct regular reviews of all firms to make sure they comply with our rules. We also monitor the trading activity of all Canadian marketplaces. We can take disciplinary action if firms or their advisors break our rules.

Registration and Education Requirements 

  • Advisors registered with a CIRO regulated firm must pass background checks and specific education requirements before they become registered. They must also meet continuing education requirements to keep their knowledge up to date.

Putting Your Interests First 

  • If you are receiving investment advice, your advisor must first work with you to understand your personal and financial circumstances, investment needs and objectives, risk profile and investment time horizon. Any investment recommendation your advisor makes must be suitable for you and put your interests first. 
Keeping You Informed 
  • Your firm must keep you informed about your investments with regular account statements and periodic reports on the fees and charges you pay and the performance of your investments.

Addressing Your Complaints 

  • You can complain directly to your firm and they must address your complaint fairly. You can also complain directly to CIRO if you feel there has been misconduct in the handling of your account and we can investigate and, if necessary, take disciplinary action.

Ombudsman 

  • If you are not satisfied with your firm’s response to your complaint, you can also complain to the Ombudsman for Banking Services and Investments. Learn more at obsi.ca

CIFP Protection 

  • Your account is eligible for CIPF protection if your CIRO regulated firm becomes insolvent. Learn more at cipf.ca

PDF Brochure 

View the brochure here: How Protect Investors Brochure