{"title":"从IDA到IIROC：加拿大投资行业的自我监管是否已经演变？","authors":"Mark Lokanan, Kush Sharma","doi":"10.1111/capa.12541","DOIUrl":null,"url":null,"abstract":"<p>This article analyzes the enforcement practices of the Investment Industry Regulatory Organization of Canada (IIROC) and compares them with its predecessor, the Investment Dealers Association of Canada (IDA). The study collected data from IIROC's tribunal cases decided between June 2008 and December 2019 and compared them with data on the IDA's enforcement of complaints from 1984 to 2008. The findings reveal no statistically significant difference in the fines imposed by the two regulatory bodies. Furthermore, IIROC has refrained from issuing lenient penalties such as retaking examinations/courses or mandating terms and conditions for offenders. The results also indicate no significant impact on the number or distribution of offense types committed in the industry over time. Most notably, the Ontario Securities Commission, the Canadian Securities Regulators, and the new Self-Regulatory Organization of Canada should consider these findings when formulating policies concerning the role of self-regulation in the financial markets.</p>","PeriodicalId":46145,"journal":{"name":"Canadian Public Administration-Administration Publique Du Canada","volume":"66 3","pages":"366-389"},"PeriodicalIF":1.1000,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/capa.12541","citationCount":"0","resultStr":"{\"title\":\"From IDA to IIROC: Has self-regulation in the Canadian investment industry evolved?\",\"authors\":\"Mark Lokanan, Kush Sharma\",\"doi\":\"10.1111/capa.12541\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>This article analyzes the enforcement practices of the Investment Industry Regulatory Organization of Canada (IIROC) and compares them with its predecessor, the Investment Dealers Association of Canada (IDA). The study collected data from IIROC's tribunal cases decided between June 2008 and December 2019 and compared them with data on the IDA's enforcement of complaints from 1984 to 2008. The findings reveal no statistically significant difference in the fines imposed by the two regulatory bodies. Furthermore, IIROC has refrained from issuing lenient penalties such as retaking examinations/courses or mandating terms and conditions for offenders. The results also indicate no significant impact on the number or distribution of offense types committed in the industry over time. Most notably, the Ontario Securities Commission, the Canadian Securities Regulators, and the new Self-Regulatory Organization of Canada should consider these findings when formulating policies concerning the role of self-regulation in the financial markets.</p>\",\"PeriodicalId\":46145,\"journal\":{\"name\":\"Canadian Public Administration-Administration Publique Du Canada\",\"volume\":\"66 3\",\"pages\":\"366-389\"},\"PeriodicalIF\":1.1000,\"publicationDate\":\"2023-09-15\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://onlinelibrary.wiley.com/doi/epdf/10.1111/capa.12541\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Canadian Public Administration-Administration Publique Du Canada\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/capa.12541\",\"RegionNum\":4,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"PUBLIC ADMINISTRATION\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Canadian Public Administration-Administration Publique Du Canada","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/capa.12541","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"PUBLIC ADMINISTRATION","Score":null,"Total":0}
From IDA to IIROC: Has self-regulation in the Canadian investment industry evolved?
This article analyzes the enforcement practices of the Investment Industry Regulatory Organization of Canada (IIROC) and compares them with its predecessor, the Investment Dealers Association of Canada (IDA). The study collected data from IIROC's tribunal cases decided between June 2008 and December 2019 and compared them with data on the IDA's enforcement of complaints from 1984 to 2008. The findings reveal no statistically significant difference in the fines imposed by the two regulatory bodies. Furthermore, IIROC has refrained from issuing lenient penalties such as retaking examinations/courses or mandating terms and conditions for offenders. The results also indicate no significant impact on the number or distribution of offense types committed in the industry over time. Most notably, the Ontario Securities Commission, the Canadian Securities Regulators, and the new Self-Regulatory Organization of Canada should consider these findings when formulating policies concerning the role of self-regulation in the financial markets.
期刊介绍：
Canadian Public Administration/Administration publique du Canada is the refereed scholarly publication of the Institute of Public Administration of Canada (IPAC). It covers executive, legislative, judicial and quasi-judicial functions at all three levels of Canadian government. Published quarterly, the journal focuses mainly on Canadian issues but also welcomes manuscripts which compare Canadian public sector institutions and practices with those in other countries or examine issues in other countries or international organizations which are of interest to the public administration community in Canada.
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