IDA Regulation 200.1(c) – Requirement to Send Quarterly Statements to Clients – Withdrawal of Proposed Rule Amendment

INVESTMENT DEALERS ASSOCIATION OF CANADA

REGULATION 200.1(C) -- REQUIREMENT TO SEND QUARTERLY STATEMENTS TO CLIENTS

WITHDRAWAL OF PROPOSED RULE AMENDMENT

I Overview

On February 27, 2004, the Ontario Securities Commission published for comment proposed rule amendments to IDA Regulation 200.1(c) with respect to the requirement to send quarterly statements to clients. However, the proposed Rule amendment was inconsistent with the securities legislation of IIROC's recognizing regulators. On June 1, 2008, the IDA combined with Market Regulation Services Inc. and formed the Investment Industry Regulatory Organization of Canada (IIROC).

II Withdrawal

As changes to securities legislation to accommodate these proposed changes are not forthcoming, IIROC has informed the Canadian Securities Administrators (CSA) that it has withdrawn the proposed rule amendments.

Questions may be referred to:

Richard J. Corner

Vice President, Member Regulation Policy

Investment Industry Regulatory Organization of Canada

(416) 943-6908