Notice of Withdrawal - Proposed Amendments to Dealer Member Rules and Form 1 Relating to the Futures Market Segregation and Portability Customer-Protection Regime - Investment Industry Regulatory Organization of Canada (IIROC)

Market Regulation Document Type
IIROC rule review

INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
PROPOSED AMENDMENTS TO DEALER MEMBER RULES AND FORM 1 RELATING TO THE FUTURES MARKET SEGREGATION AND PORTABILITY CUSTOMER-PROTECTION REGIME
NOTICE OF WITHDRAWAL

IIROC is publishing a Notice withdrawing proposed amendments to its Dealer Member Rules and Form 1 (collectively, the Proposed Amendments) relating to the anticipated futures market segregation and portability customer-protection regime. IIROC initially published the Proposed Amendments for public comment on May 18, 2017. The Proposed Amendments were intended to restrict linkages between a Dealer Member’s futures business and its other business lines, in order to facilitate the adoption of a customer protection segregation and portability regime by Central Clearing Counterparties (CCPs) serving the futures market.

In light of comments received raising key issues that need to be resolved before the full implementation of the Canadian futures market segregation and portability regime, as well as the passage of time and recent developments at the relevant CCPs, IIROC has withdrawn the Proposed Amendments. IIROC continues to review the issues raised and expects to publish a revised proposal in the future.

A copy of the IIROC Notice of Withdrawal can be found at http://www.osc.gov.on.ca. For more information on the segregation and portability regime, including its current status, please refer to the notice recently issued by the Canadian Derivatives Clearing Corporation (CDCC). The CDCC notice is available on the CCP’s website at https://www.cdcc.ca/publications_notices_en.