3603. Advertising

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    1. A Dealer Member must not issue, participate in or knowingly allow the use of its name in any advertisement, sales literature or correspondence that:

      1. contains an untrue statement or omission of a material fact or is otherwise false or misleading,

      2. contains an unjustified promise of specific results,

      3. uses unrepresentative statistics to suggest unwarranted or exaggerated conclusions, or fails to identify the material assumptions made in arriving at these conclusions, 

      4. contains any opinion or forecast of future events which is not clearly labeled as such,

      5. fails to fairly present the potential risks to the client,

      6. is detrimental to the interests of the public, IIROC or its Dealer Members, or

      7. fails to comply with IIROC requirements or any applicable laws.  

    2. A Dealer Member’s policies and procedures must specifically address the review and supervision of advertisements, sales literature and correspondence relating to its business.

    3. A Dealer Member must ensure that the following items are approved by a designated Supervisor before use or publication:

      1. research reports,

      2. market letters,

      3. telemarketing scripts, 

      4. promotional seminar texts (excluding educational seminar texts), 

      5. original advertisements or original template advertisements, and

      6. any material containing performance reports or summaries that is used to solicit clients.

    4. A Dealer Member must ensure that all advertising, sales literature or correspondence not listed in subsection 3603(3) is reviewed in a manner appropriate to the type of material through: 

      1. pre-use approval, 

      2. post-use review, or

      3. post-use sampling. 

    5. A Dealer Member must provide reasonable assurance:  

      1. its employees and Approved Persons are familiar with its policies and procedures relating to advertisements, sales literature and correspondence, and

      2. its policies and procedures include specific ongoing measures to provide reasonable assurance its policies and procedures are being complied with. 

    6. A Dealer Member must retain copies of all advertisements, sales literature and correspondence and all records of supervision for the period set out in section 3803.  These items must be readily available for inspection by IIROC

    3604. – 3605.  Reserved.

    There is no history log for this rule.

    There is no history log for this rule.