Request for Comment – Proposed Amendments to Form 1 and Corollary Amendments to the IIROC Rules – Investment Industry Regulatory Organization of Canada (IIROC)

IIROC is publishing for public comment proposed amendments to Form 1 and corollary amendments to the IIROC Rules (collectively, the Proposed Amendments).

On April 29, 2021, IIROC made housekeeping amendments to Form 1 (Housekeeping Amendments) with the objective to make the language and structure of Form 1 more clear, concise and organized. The Housekeeping Amendments were deemed to be approved and will be in effect on December 31, 2021 or as otherwise determined by IIROC. The Notice of Commission Deemed Approval and a copy of the IIROC notice for the Housekeeping Amendments, including text of the Housekeeping Amendments, have been published on our website at www.osc.ca.

In additional to the Housekeeping Amendments, IIROC identified that material amendments are required to ensure the terms that are used in Form 1 and the IIROC Rules continue to be consistent. The Proposed Amendments represent these material amendments.

The Proposed Amendments seek to improve the overall consistency of the IIROC requirements by providing greater clarity and conciseness of certain defined terms and incorporating plain language writing conventions within Form 1. The Proposed Amendments are expected to be implemented on December 31, 2021 which is the same implementation date as that for the IIROC Rules.

A copy of the IIROC Notice, including the text of the Proposed Amendments, is also published on our website at www.osc.ca. The comment period ends on July 12, 2021.