Request for Comment - Proposed Amendment to IIROC By-law No. 1 Section 1.1 (Definition of "Marketplace") - Investment Industry Regulatory Organization of Canada (IIROC)

Market Regulation Document Type
IIROC rule review

REQUEST FOR COMMENT

INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)

PROPOSED AMENDMENT TO IIROC BY-LAW NO. 1 SECTION 1.1 (DEFINITION OF “MARKETPLACE”)

IIROC is publishing for public comment a proposed amendment to section 1.1 of its By-law No. 1 (By-law) to align the definition of “Marketplace” in the By-law with the:

  • definitions of “marketplace” and “published market” as set out in securities legislation
  • definition of “commodity futures exchange” as set out in commodity futures legislation.

The definition of “Marketplace” in the By-law currently limits IIROC to acting as a regulation services provider only to an exchange, quotation and trade reporting system, and alternative trading system. The proposed change would remove this constraint and allow IIROC to act as a regulation services provider to any platform that constitutes a “marketplace”, “published market” or “commodity futures exchange” as set out in securities legislation and commodity futures legislation.

If approved, IIROC intends to seek Member approval of the proposed amendment at a special meeting in February 2021.

A copy of the IIROC Notice, including the proposed amendment, is also published on our website at www.osc.gov.on.ca. The comment period ends on January 4, 2021.