For Immediate Release
January 15, 2008

Canadian Regulators Release Oversight Review Report of the IDA

Toronto - The Canadian Securities Administrators (CSA) announced today the release of the Oversight Review Report on the performance of the Investment Dealers Association of Canada (IDA).
The review, conducted by the Alberta Securities Commission (ASC), Autorité des marchés financiers, British Columbia Securities Commission, Nova Scotia Securities Commission, Ontario Securities Commission and the Saskatchewan Financial Services Commission focused on the IDA’s Registration, Enforcement and Sales Compliance departments, as well as the IDA’s membership process.

CSA staff participating in this consolidated report were generally satisfied that the IDA is in compliance with the relevant terms and conditions of its recognition orders as a self-regulatory organization.

The Report outlines staff’s findings and identifies some areas for improvement. It also includes the IDA’s responses to the recommendations, as well as staff comments and intended follow-up. CSA staff are working with the IDA on areas identified in the course of the review.

The Report is available on various CSA members’ websites. The ASC separately released its Oversight Review report of the IDA’s Prairie Regional office to address issues specific to that office. The ASC’s report is posted on the ASC website, along with the IDA’s response.

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

For media inquiries:

Laurie Gillett
Ontario Securities Commission
Barbara Shourounis
Saskatchewan Financial Services Commission

Frédéric Alberro
Autorité des marchés financiers

Andrew Poon
British Columbia Securities Commission
Nicholas A. Pittas
Nova Scotia Securities Commission
Tamera Van Brunt
Alberta Securities Commission