4136. Additional restrictions

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    1. IIROC may impose any of the following additional restrictions on a Dealer Member in early warning:

      Early warning level 1

      Early warning level 2


      1. Reducing the amount of clients’ free credit balances that the Dealer Member or its carrying broker may use under Part C of Rule 4300, to an amount IIROC considers desirable.
      2. Prohibiting the Dealer Member from opening new branch offices, hiring any new Registered Representatives, Investment Representatives, Portfolio Managers or Associate Portfolio Managers, opening any new client accounts, or changing in any material way the Dealer Member’s inventory positions.
    2. For the restrictions under early warning level 2 part (ii) of subsection 4136(1), IIROC must provide the Dealer Member with a written notice of the order imposing additional restrictions on the Dealer Member.

    3. Review of early warning level 2 prohibitions

      1. The Dealer Member may request a hearing panel review of a subsection 4136(2) order within three business days after release of the decision.

      2. If a request for review is made, the hearing shall be held as soon as reasonably possible and no later than 21 days after the request for review, unless otherwise agreed by the parties. The hearing panel review shall be conducted in accordance with the requirements set out in Rule 9300.

      3. If a Dealer Member does not request a review within the time period prescribed in clause 4136(3)(i), the subsection 4136(2) order becomes effective and final.

    There is no history log for this rule.

    There is no history log for this rule.