PART A.2 - HOLDING COMPANIES, RELATED COMPANIES AND ORDER EXECUTION ONLY SERVICE PROVIDERS

2207. Approval as an order execution only account services provider

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    1. IIROC may approve a Dealer Member or a business unit of a Dealer Member to be an order execution only account service provider if the Dealer Member’s only business is an order execution only account service provider or it provides that service in a separate business unit.

    2. A Dealer Member that is offering order execution only account services must comply with all IIROC requirements other than those for which compliance is specifically exempted.

    3. A Dealer Member’s  policies and procedures must specifically address the operation of its order execution only account services.

    4. If operating as a separate business unit within a Dealer Member, an order execution only account services provider must have separate letterhead, accounts and account documentation, and its Registered Representatives and Investment Representatives may not work for any other business unit within the Dealer Member.

    5. A Dealer Member must not compensate employees by giving them trade commissions for transactions executed in order execution only accounts.

    2208. – 2214.  Reserved.


     

    There is no history log for this rule.

    There is no history log for this rule.