Notice of Commission Approval - Amendments to Dealer Member Rules and IIROC Rules Regarding Exemptions for Bulk Account Movements - Investment Industry Regulatory Organization of Canada (IIROC)

Market Regulation Document Type
IIROC rule review

 

The Ontario Securities Commission has approved IIROC’s proposed amendments to Dealer Member Rule 2300 and IIROC Rule 4800 relating to bulk account movements (the Amendments).

The main purpose of the Amendments is to set out in the rules the authority of IIROC Staff to grant exemptive relief to Dealer Members from the obligation to complete certain account documentation requirements within the applicable timelines in bulk account movement situations.

IIROC published the Amendments for comment on October 8, 2020. No further changes were considered appropriate by IIROC following the end of the public comment period. IIROC’s Notice of Approval / Implementation, including a summary of and responses to the public comments and additional guidance can be found at www.osc.ca .

The Amendments are effective immediately.

In addition, the Alberta Securities Commission; the Autorité des marchés financiers; the British Columbia Securities Commission; the Financial and Consumer Affairs Authority of Saskatchewan; the Financial and Consumer Services Commission of New Brunswick; the Manitoba Securities Commission; the Northwest Territories Office of the Superintendent of Securities; the Nova Scotia Securities Commission; the Nunavut Securities Office; the Office of the Superintendent of Securities, Service Newfoundland and Labrador; the Office of the Yukon Superintendent of Securities; and the Prince Edward Island Office of the Superintendent of Securities have approved or not objected to the Amendments.