Subordinated loan agreement

This agreement is a tri-party uniform agreement between a Dealer Member and its creditor and IIROC when the Dealer Member or its private holding company is issuing a subordinated debt security. The Dealer Member is required to execute this agreement under IIROC Rule 2100, Ownership of Dealer Member’s Securities. The purpose of the agreement is to protect the customers of the Dealer Member by prioritizing the payment of claims against the Dealer Member.  All claims of customers that are subject to the Canadian Investor Protection Fund (CIPF) protection are to be paid before the creditor’s claims. This agreement requires the Dealer Member to obtain IIROC's approval regarding any repayment of funds owed to the creditor.

Subordinated loan agreement - Attachment (pdf)