Procedural Rules & Guidance

Hearing Panels hear cases under:

(in effect as of January 1, 2022, replacing the IIROC Dealer Member Rules and incorporating the Consolidated Enforcement, Examination and Approval Rules and Continuing Education Rules)

The Universal Market Integrity Rules (UMIR) set out the requirements applicable to IIROC Participant Dealer Members, Access Persons and Marketplaces for securities related trading activities on all marketplaces that IIROC regulates.

Enforcement proceedings are governed by Procedural Rules – 8000

Appearance and representation in a hearing is covered under Rule 8405.

Service and filing of documents is covered under Rule 8406.

Forms of hearings (oral, electronic or written) are listed under Rule 8409.

Requirements for decisions from Hearing Panels can be found under Rule 8410.

Regulatory review proceedings are governed by Procedural Rules 9000.

For relevant procedural Guidelines and Policies, please see:

Welcome to!

We have a new look! 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.