3947. Supervision of new Registered Representatives and Investment Representatives

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    1. A Dealer Member must closely supervise Registered Representatives and Investment Representatives dealing with retail clients for six months after approval, as set out in the Registered Representative / Investment Representative Monthly Supervision Report.

    2. Subsection 3947(1) does not apply if:

      1. the Registered Representative was previously approved, for six months or more, to advise on trades for retail clients for a securities firm that is a member of a SRO or a recognized foreign self-regulatory organization, or

      2. the Investment Representative was previously approved for six months or more to advise on trades or to trade for retail clients for a securities firm that is a member of a SRO or a recognized foreign self‑regulatory organization.

    3. A Dealer Member must complete and keep a copy of every Registered Representative / Investment Representative Monthly Supervision Report for IIROC’s inspection.

    There is no history log for this rule.

    There is no history log for this rule.