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A Dealer Member’s policies and procedures must establish a supervisory system to supervise the activities of all its employees and Approved Persons that provides reasonable assurance they comply with IIROC requirements and securities laws.
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As part of its supervisory system, the Dealer Member, at a minimum, must:
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have policies and procedures that specifically address supervision of its employees and Approved Persons,
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have policies and procedures relating to supervision that provide reasonable assurance of compliance with IIROC requirements, securities laws and applicable laws,
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ensure all supervisory policies and procedures are in writing, and
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amend its policies and procedures relating to supervision within a reasonable time after changes in IIROC requirements, or securities laws are made.
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A Dealer Member must communicate its policies and procedures to all relevant employees and Approved Persons and must:
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provide its sales and supervisory employees and Approved Persons with the Dealer Member’s sales practices policies and procedures relevant to their functions,
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obtain and record acknowledgements from all sales and supervisory employees and Approved Persons that they have read and understood the policies and procedures relevant to their respective roles and responsibilities,
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provide introductory and continuing education to all Approved Persons on the Dealer Member’s policies and procedures and any relevant changes to them,
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communicate information relating to IIROC requirements and applicable laws, to all sales employees and other Approved Persons to whom it is relevant,
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have policies and procedures that specifically address the method and timing of the distribution of compliance related notices,
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promptly communicate changes in its policies and procedures to all relevant employees and Approved Persons, and
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have procedures to provide reasonable assurance that each employee and Approved Person understands their responsibilities under the Dealer Member’s policies and procedures.
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There is no history log for this rule.