NEW SRO Changes its Name to Canadian Investment Regulatory Organization

TORONTO, June 1, 2023 /CNW/ - New SRO has officially changed its name to the Canadian Investment Regulatory Organization (CIRO) The name change is a result of the former Mutual Fund Dealers Association of Canada and Investment Industry Regulatory Organization of Canada amalgamating earlier this year.

To celebrate the launch of the new name, CIRO executives and employees opened the Toronto markets this morning.

"Today is a momentous day for our organization, industry, and our employees. We are finally CIRO," said Andrew Kriegler, President and CEO, CIRO. "It is a transformative time for Canadian securities regulation, and I am proud to be involved in making things better. We have an opportunity to change the way we structure regulation, CIRO will reduce undue regulatory burden and, provide flexibility to our members in a way that helps them serve their clients better and does not introduce disruptive change."

The CIRO logo is a visual representation of the new, single self-regulatory organization and tells the story of CIROs role in regulation and investor protection. The logo conveys a feeling of trust, and the three lines show upward movement to demonstrate progression and signify growth. Additionally, the lines represent CIRO's three key stakeholders: investors, members, and the capital markets.

Members regulated by CIRO will have until December 31, 2024, to update their systems.

About CIRO

Canadian Investment Regulatory Organization is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit CIRO.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)