17 Sep IIROC – Notice on Annual Risk Questionnaire (ARQ) and Risk Trend Reports (RTR)
September 17, 2021 – Summarizes key changes to streamline and enhance compliance risk assessment process.
Annual Risk Questionnaire: Beginning fall 2021, rotational reviews or selective review examinations will be replaced by an annual risk questionnaire (ARQ), which must be filed electronically. One ARQ will be used by each compliance team prior to commencing field work as part of regular exam planning process, inform of dealer member annual risk assessments.
Timing of Annual Risk Assessment Process: Risk assessment cycle for determining the compliance risk of each firm, and issuing risk trend reports, will be moved from as of March 31 to as of December 31. Firms will also be asked to submit copy of most recent CCO Report to Board as well as a current corporate organizational chart; firms will have one month to complete ARQ.
ARQ Review: Responses to the ARQ will be used in the firm’s risk assessment as at December 31. All firms will be receiving a RTR this year, as at December 31, 2021, around spring 2022.
For more information, visit www.iiroc.ca.