3907. Delegation of supervisory tasks

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    1. A Supervisor may delegate supervisory tasks and procedures, but not the responsibility for their performance.  

    2. Any delegation of supervisory tasks must not be contrary to IIROC requirements, securities laws and applicable laws.  

    3. A delegate must be qualified to perform the assigned tasks by virtue of registration, training or experience.

    4. The Supervisor must:

      1. inform the delegate of the tasks delegated to them and what is expected of them in the performance of the delegated tasks, in writing,

      2. ensure that the delegate adequately performs the delegated tasks, and
      3. establish reporting mechanisms for issues arising from the performance of delegated tasks.
    5. The Dealer Member must maintain a record of the terms of the delegation, as well as the Supervisor’s follow up and review of the delegated tasks.
    6. The Dealer Member must inform the Supervisor of specific functions that cannot be delegated.

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    There is no history log for this rule.