To bolster input from retail investors, the Investment Industry Regulatory Organization of Canada (IIROC) is establishing a new expert advisory group.
The Expert Investor Issues Panel (EIIP) will provide IIROC with the retail investor perspective on policy issues and other matters.
“The EIIP will enable individuals with a wide variety of experience and expertise related to investors to provide valuable input into IIROC’s mandate to protect investors and support healthy capital markets,” IIROC said in a statement.
IIROC said that it will publish a notice seeking input on the new group later this year.
In the meantime, IIROC is also examining existing advisory setups — such as the Ontario Securities Commission’s Investor Advisory Panel and the Autorité des marchés financiers’ Financial Products and Services Consumer Advisory Committee.
IIROC said that it will consult with well-known investor advocates, public policy experts and/or academics before founding the initial panel.
“As a pan-Canadian regulator with an investor protection mandate, it is critical to give Canadian investors a voice in IIROC’s decision-making processes. Now, IIROC will go one step further by establishing a panel of experts to advise on investor issues,” Andrew Kriegler, IIROC’s president and CEO, said in a statement.
IIROC noted that it will also continue conducting research with investors directly.
The announcement comes ahead of the Canadian Securities Administrators’ sweeping review of self-regulation, which is set to launch mid-year.