ADVANCING IIROC’S STRATEGIC PLAN PRIORITIES

Over the past year, IIROC made significant progress in the implementation of its ambitious three-year Strategic Plan. We remain committed to realizing IIROC’s mission, to protect investors and support healthy capital markets across Canada.


The Board recognizes the necessity of keeping pace with, and in some cases, getting ahead of the changing regulatory and investor/investment landscape in Canada and abroad. We are also supportive of the direction of the Strategic Plan, the annual priorities Management has set out, and we greatly appreciate the advances made to date in the first year of the Plan. The legislative amendments that were passed in two provinces within the past year, along with the authorization order from Prince Edward Island, significantly strengthen IIROC’s enforcement authority. They send an important message to potential wrongdoers that if you harm investors, you will be held accountable for your actions.

Although IIROC’s primary role is as a regulator, the information IIROC collects also offers significant value to the financial system across Canada, other regulators, the investor community and the industry as a whole. For example, the selection of IIROC by the Canadian Securities Administrators to be the Information Processor for debt security trading in Canada makes more information available to all Canadian market participants, increases transparency and promotes investor confidence.

Investor confidence also requires stakeholder participation in our policy-making process. We welcome stakeholder input, which the Board hears firsthand during our regional receptions, as this feedback contributes to our ability to effectively protect investors, enhances confidence in our regulatory system and builds support for robust capital markets – which fuel the Canadian economy. We are pleased a broad group of stakeholders and regulatory partners participate in these informal forums.

Reflecting our unique pan-Canadian role, IIROC’s directors come from different regions of the country and represent a variety of business models and stakeholders, bringing to our Board diverse and valuable perspectives, one of IIROC’s strengths.

Last year, two Board members joined us as industry directors, bringing a wealth of experience and insights from the dealer and marketplace communities. Luc Paiement is the Executive Advisor to the President and Chief Executive Officer of the National Bank of Canada and former Co-President and Co-CEO of National Bank Financial Inc. in Montréal. Thomas Wittman is Executive Vice-President of Nasdaq and Head of Global Trading and Market Services. They have provided valuable input in the short time they have served and I look forward to their continuing contributions.

M. Marianne Harris
I also want to acknowledge the contributions of those who have left our Board. Luc Bachand served as an industry director from 2012 to 2016 and was an active contributor expressing his unique perspective and inquisitive nature. I would also like to acknowledge and thank Vice-Chair Mike Gagné, who recently completed his term. Mike has been an incredible resource to me in my role as Chair and to the many directors he served with over the years. I would like to note his invaluable counsel since becoming a director in 2009. We are grateful for his many years of service and thoughtful approach to every role he held as a director, particularly as Chair of the Finance, Audit and Risk Committee.

It is my privilege to work with such a hard-working and dedicated Board and I would like to thank all of our directors for their contributions to IIROC over the past year.

On behalf of the Board, I would also like to extend my sincere thanks to IIROC’s management team for their leadership and vision — and to all IIROC employees for their efforts in moving IIROC forward with the priorities outlined in the Strategic Plan and for their consistent daily work in the public interest. It is a pleasure to work with such an informed and engaged group, all of whom share a commitment to fulfilling IIROC’s public interest mandate to protect investors and promote healthy capital markets across Canada.

M. Marianne Harris signature





M. Marianne Harris
Chair of the Board