Proposed Amendments Respecting Non-Clients

Date opened: November 5, 2019

Date closed: December 4, 2019

Status: Closed

Summary/details:

IIROC is publishing for comment proposed amendments (Proposed Amendments) to IIROC’s Universal Market Integrity Rules (UMIR) and the IIROC Rules that would:

  • replace the definition of a “non-client order” or “non-client account” with new definitions of “Dealer Related Person order” and “Dealer Related Person account”
  • introduce a new definition of “Dealer Member account” into the IIROC Rules.

By implementing the Proposed Amendments, we would ensure consistency:

  • between the terminology used in UMIR and the IIROC Rules
  • in how Dealer members identify non-client accounts and orders.

A special working group of industry stakeholders and IIROC staff provided their input on the drafting of the Proposed Amendments. We sincerely thank these individuals for their time and valuable contribution.

We are also publishing accompanying proposed guidance(Proposed Guidance) for comment in conjunction with the Proposed Amendments.

Notices about this consultation:

MFDA and IIROC have consolidated

As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

We have set up an interim website for updates and information related to the New SRO including:

  • Executive Management
  • Governance
  • New SRO Rules
  • Member Application
  • Investor Office and the Investor Advisory Panel
  • Information concerning mutual fund dealers registered in Québec
  • Complaints
  • Careers

Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on www.mfda.ca and www.iiroc.ca.