OSC shifts responsibilities to streamline oversight
Starting April 1, the Canadian Investment Regulatory Organization (CIRO) has taken over more registration responsibilities from the Ontario Securities Commission (OSC). This includes registering investment dealers, mutual fund dealers, futures commission merchants, and the individuals who work for them.
The change is meant to simplify the registration process, reduce duplication, and support more consistent regulation across Canada. It also aligns with the OSC’s 2025–2026 priorities to reduce the regulatory burden for firms.
“Today marks a significant milestone for regulation in Ontario. By delegating these registration functions to CIRO, we have streamlined regulation for market participants in Ontario and across Canada by removing duplication and creating a modern regulatory framework for our capital markets,” OSC CEO Grant Vingoe said.
The OSC said it will continue to oversee CIRO’s performance through a risk-based approach to ensure the system remains effective. The move follows a recommendation from the Capital Markets Modernization Taskforce, which released its report in January 2021.
“CIRO, like all regulators, has a responsibility to deliver regulation efficiently, effectively and remove duplication. The OSC's decision to streamline registration through delegation supports our strategic objective to deliver a more effective registration framework,” CIRO CEO Andrew Kriegler said.
“We thank the OSC for their support as we take on these new registration functions. CIRO looks forward to delivering on this new registration framework and continuing to bring value to our members and the investors they serve.”
A separate announcement from the Canadian Securities Administrators (CSA) outlines similar plans for CIRO. More information about the delegation orders is available on OSC’s official website, where investors can also check the registration status of individuals and firms.
