Request for Comment - Proposed Amendments Regarding Exemptions for Bulk Account Movements
REQUEST FOR COMMENT
INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
PROPOSED AMENDMENTS REGARDING EXEMPTIONS FOR BULK ACCOUNT MOVEMENTS
IIROC is publishing for public comment proposed amendments to Dealer Member Rule 2300 and IIROC Rule 4800 relating to bulk account movements (“Proposed Amendments”). The main purpose of the Proposed 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 timeline in bulk account movement situations.
IIROC anticipates that the Proposed Amendments will add clarity to Dealer Members, their clients and other stakeholders and enable IIROC to grant exemptive relief for bulk account movements in an efficient manner, limiting unnecessary delays of planned transactions. IIROC will exercise such an exemptive authority in consideration of the interest of clients, the public and Dealer Members and will impose any terms and conditions it deems necessary given the particularities of each transaction.