The Portfolio Management Association of Canada (PMAC) is pleased to have the opportunity to submit the following comments on the British Columbia Securities Commission (BCSC) Notice and Request for Comment – Proposed Amendments to BC Instrument 22-502 Registration by the Investment Industry Regulatory Organization of Canada (Consultation). The key recommendations were:
- Implement strong oversight of any registration functions delegated to CIRO in order to maintain high standards
- Evaluate CIRO data security capabilities to ensure registrant information is protected
- Conduct a review of the CSA, BCSC and CIRO’s data collection, sharing and retention policies and consider whether changes are required before delegating registration functions to CIRO
Click here for the full submission.