With full recognition of the sustained growth of self-directed investing in Canada, the CFFiM has led practical recommendations, for regulators’ consideration, in the necessary, yet challenging, re-shaping of our regulatory framework to reflect the benefit of emerging technologies.

CIRO’s response and efforts to expand Order Execution Only (OEO) platforms and the tools available to Do- It-Yourself investors are acknowledged with appreciation .

It is recognized that in efforts to achieve compliance, there are often requests to provide prescription and examples. The better approach is for the market to determine outcomes within broad principles reflective of CIRO rules. The success of this approach is dependent upon reasonableness in regulatory expectation and interpretation, reasonableness in the exercise of judgment by expert dealers and, importantly, in the deference by CIRO to that judgment. Reasonableness is informed by the governing rules and principles to an OEO platform outlined in CFFiM’s recommendations found ici.