Notice of Commission Approval - Amendments Requiring Disclosure of Membership in IIROC
INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
AMENDMENTS REQUIRING DISCLOSURE OF MEMBERSHIP IN IIROC
NOTICE OF COMMISSION APPROVAL
The Ontario Securities Commission has approved IIROC's proposed amendments to Dealer Member Rules 700, 22, 29.14, and 29.28, as well as IIROC's Membership Disclosure Policy. The amendments require IIROC Dealer Members to, among other things: (a) include the IIROC Logo on client account statements; (b) distribute the IIROC official brochure to new retail clients; and (c) include a link to the IIROC AdvisorReport on the IIROC Dealer Member's homepage and on any other IIROC Dealer Member webpage that includes a profile of an IIROC-regulated investment advisor.
The amendments were re-published for public comment on November 5, 2015. Nine comment letters were received and can be found on the IIROC website. No revisions to the amendments, as set out in Notice 15-0248, were made as a result of comments received. A copy of the IIROC Notice of Approval / Implementation can be found at http://www.osc.gov.on.ca.
The amendments will be effective on January 1, 2017, other than the requirement relating to the inclusion of the IIROC Logo on client account statements, as set out in section 3 of the IIROC Membership Disclosure Policy, which will be effective on July 1, 2018.
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 Nova Scotia Securities Commission, the Office of the Superintendent of Securities, Service Newfoundland and Labrador, and the Prince Edward Island Office of the Superintendent of Securities Office have approved or not objected to the amendments.