CSA Canadian Securities Administrators

For Immediate Release
April 26, 2013

Canadian Securities Regulators undertake
review following loss of personal information

Toronto – The Canadian Securities Administrators (CSA) announced that, as part of its ongoing oversight, it is reviewing the Investment Industry Regulatory Organization of Canada’s (IIROC) policies, procedures and controls as a result of the recent accidental loss of a portable device containing personal information about clients of some IIROC member firms.

The CSA is responsible for the regulatory oversight of IIROC, which is a self-regulatory organization that regulates investment dealers and trading activities on debt and equity marketplaces in Canada. IIROC must, subject to applicable legislation, collect, use and disclose personal information only to the extent reasonably necessary to carry out its regulatory activities and mandate.  IIROC is also required to adopt policies and procedures designed to ensure that confidential information about the operations of its dealer members is maintained in confidence and is not shared inappropriately with other persons. 

The CSA is reviewing the facts surrounding this incident, including a review of IIROC’s current policies, procedures and controls relating to information security, the encryption of data, and the collection and storage of personal information for regulatory purposes. 

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

Carolyn Shaw-Rimmington
Ontario Securities Commission

Lorinda Brinton
Alberta Securities Commission

Sylvain Théberge
Autorité des marchés financiers

Richard Gilhooley
British Columbia Securities Commission

Ainsley Cunningham
The Manitoba Securities Commission

Wendy Connors-Beckett
New Brunswick Securities Commission

Tanya Wiltshire
Nova Scotia Securities Commission

Daniela Machuca
Financial and Consumer Affairs
Authority of Saskatchewan

Janice Callbeck
The Office of the Superintendent of
Securities, P.E.I.

Doug Connolly
Financial Services Regulation Division of
Newfoundland and Labrador

Rhonda Horte
Office of the Yukon Superintendent
of Securities

Louis Arki
Nunavut Securities Office

Donn MacDougall
Northwest Territories Securities Office