April 15, 2019, the applicable securities regulatory authorities approved amendments (Amendments) to the Universal Market Integrity Rules and the Dealer Member Rules to include client identifiers and/or certain designations on:
- each order for a listed security that is sent to a marketplace
- each reportable trade in a debt security.
IIROC Notices regarding the Amendments Respecting Client Identifiers:
19-0118 – Rules Notice – Request for Comment – DMR –
Proposed Amendments Respecting Client Identifiers (July 11, 2019).
19-0071 - Rule Notice – Notice of Approval - UMIR and DMR –
Amendments Respecting Client Identifiers (April 18, 2019).
18-0122 – Rule Notice – Request for Comments – UMIR and DMR –
Publication of Proposed Provisions Respecting Client Identifiers (June 28, 2018).
17-0109 – Rules Notice – Request for Comment – UMIR and DMR -
Proposed Provisions Respecting Client Identifiers (May 17, 2017).
Client Identifiers - Information
There will be a three-phased implementation period for the Amendments. The Amendments come into force on the following days after the publication of the Notice of Approval:
- Phase 1 – 6 months, or October 18, 2019
- Phase 2 – 18 months, or October 19, 2020
- Phase 3 – 24 months, or April 19, 2021
Legal Entity Identifiers
Where a Legal Entity Identifier (LEI) is required under the Amendments, the client must use an LEI that is issued in accordance with standards set by the
Global Legal Entity Identifiers System (GLEIF).
GLEIF provides information on how to obtain an LEI, including a list of LEI issuing organizations for Canada, which can be accessed
GLEIF also maintains a publicly searchable
database of all issued LEIs.
Glossary of Terms
Implementation of Amendments Respecting Client Identifiers Glossary of Terms for Decision Tree and Scenario Chart
Contact Person: Theodora Lam
Senior Policy Counsel
Market Regulation Policy