3622. Quiet periods

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    1. A Dealer Member must not issue a research report on equity securities of a subject issuer for which the Dealer Member has acted as manager or co-manager:

      1. for 10 days after the date of the offering of an initial public offering of equity securities of the subject issuer, 

      2. for three days after the date of the offering of a secondary offering of equity securities of the subject issuer.
    2. Subsection 3622(1) does not prevent a Dealer Member from issuing a research report on the effects of significant news about or a significant event affecting the issuer within the applicable 10 day or three day period.
    3. Subsection 3622(1) does not apply where the subject securities are exempted from restrictions under provisions relating to market stabilization set out in IIROC requirements and securities laws.

    There is no history log for this rule.

    There is no history log for this rule.