Client Focused Reforms – Proposed Rule Amendments for Public Comment 

Date opened: November 19, 2020

Date closed: January 18, 2021

Status: Closed


IIROC is amending its rules in the core areas of account appropriateness, know-your-client (KYC), suitability, conflicts of interest, and relationship disclosure information (RDI) and introducing new rules in the core areas of product due diligence and know-your-product (KYP) (collectively, the Amendments). The Amendments are intended to make our requirements uniform in all material respects with the reforms to enhance the client-registrant relationship (Client Focused Reforms or CFRs) made to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) by the Canadian Securities Administrators (CSA CFRs).

Notices about this consultation:

Welcome to!

We have a new look! Today is the first day you can find the Canadian Investment Regulatory Organization (CIRO) at with our fresh look and feel.

You can now find new publications published by CIRO since January 1, 2023 on If you are looking for past notices or bulletins published by MFDA or IIROC, you can find those on our legacy websites. Enforcement related content will continue on those websites as well.

You can now find previous Annual Reports and Enforcement Reports on, along with Halts and Resumption, and our ePublications sign up (for all previous MFDA and IIROC subscriber lists).

We will continue moving items off MFDA and IIROC in 2023/2024. Stay tuned for future updates.