As the national self-regulatory organization for the Canadian investment industry, IIROC is responsible for developing recommendations to amend existing rules, establish new rules, and interpret existing rules, all with the goal of promoting high standards for the investment industry and a strong culture of compliance among IIROC-regulated firms.
IIROC Policy staff are responsible for writing, clarifying and amending rules for both investment dealer and marketplace regulation.
Once our Board approves a policy proposal to be published for public comment. the proposal is then published for public comment through the issuance of an IIROC Rules Notice and submitted to IIROC's oversight regulators, the Canadian Securities Administrators, for their review and approval.
When policy proposals are published for comment, it is usually for a period of 60 or 90 days. IIROC invites feedback from investment dealers and other market participants, industry stakeholders, investor advocates and members of the public.
Once approval is received from the Canadian Securities Administrators, the final step in the process is the publication of an IIROC Rules Notice (along with separate interpretative guidance where appropriate) to announce the implementation of the approved rules. Guidance Notices may also be published for comment. Market Regulation Policy staff are responsible for assessing a request for an exemption from a Universal Market Integrity Rule. IIROC records all calls to and from Market Regulation Policy team telephone lines.
In the interest of transparency, proposed policies and rules are published for comment and also posted on the IIROC website.
Policy Priorities Update Report
This document describes IIROC’s Universal Market Integrity Rule (UMIR) and Dealer Member Rule (DMR) initiatives (i.e. rule proposals and guidance notes) that we anticipate implementing and/or publishing for comment over the next 12 months. Download the
Policy Priorities Update Report in PDF format.
For a full searchable list of IIROC Notices, IIROC's search tool to
look up disciplinary cases.
Note: Marketplace-specific rules and accompanying policies for the
CNSX can be viewed on their websites.