Request for Comment – Rule Consolidation Project – Phase 1 – Canadian Investment Regulatory Organization (CIRO)

CIRO is publishing for comment certain rule proposals as Phase 1 of its Rule Consolidation Project (Phase 1 Proposed DC Rules).  This project will bring together the two member regulation rule sets, currently applicable to investment dealers and to mutual fund dealers, into one set of member regulation rules applicable to both categories of CIRO Dealer Members.  The consolidated member regulation rules will be known as the CIRO Dealer and Consolidated Rules (DC Rules).

The objective of the Phase 1 Proposed DC Rules is to establish a framework for the development of the DC Rules.  The Phase 1 Proposed DC Rules also establish the DC Rules structure, which involves the adoption of:

• rule interpretation provisions,
• definitions of common application throughout the rules,
• rule exemption provisions, and
• general standards of conduct applicable to all activities of the dealer and their employees and Approved Persons.

A copy of the CIRO Bulletin, including the text of the Phase 1 Proposed DC Rules, is also available on our website at www.osc.ca.  The comment period ends on December 19, 2023.