Securities regulators reviewing loss of personal information at IIROC

TORONTO – The Canadian Securities Administrators said Friday that it is investigating the recent loss of a portable device containing client information by the Investment Industry Regulatory Organization of Canada.

The council of the provincial and territorial securities regulators said it was reviewing the facts surrounding this incident, including IIROC’s policies, procedures and controls relating to information security, the encryption of data and the collection and storage of personal information.

The CSA is responsible for the regulatory oversight of IIROC, a self-regulatory organization that covers investment dealers.

Earlier this month, IIROC said it had lost a portable device containing the personal information of 52,000 clients from a total of 32 investment firms.

The data had been obtained by the IIROC through regular compliance reviews.

IIROC has said there was no evidence that there had been any unauthorized attempts to access the portable device.

The group set up a dedicated call centre for any inquiries from concerned investors and placed a six-year alert flag through Equifax Canada on any clients’ credit files that are at risk of being breached.