CIRO (Canadian Investment Regulatory Organization)
The self-regulatory organization that oversees investment dealers and mutual fund dealers, formed in 2023.
CIRO was created on January 1, 2023, merging IIROC (which oversaw investment dealers and the trading markets) and the MFDA (which oversaw mutual fund dealers). It supervises about 175 dealer firms and the people who work there, sets proficiency standards, runs the Canadian Investor Protection Fund (CIPF, which insures brokerage accounts up to $1 million if a member firm goes insolvent), and handles enforcement. The OSC and other provincial regulators sit above CIRO. When you read about IIROC rules in older articles, those are now CIRO rules.
A 60-second lesson that puts this term in context, alongside the others, lives inside the Finlo app.