Thursday August 25 2016

News Source: Global Exchanges

Focus: Trading Rules

Type: General




The Investment Industry Regulatory Organization of Canada`s (IIROC`s) new Consolidated Rules, approved earlier this year by the Canadian Securities Administrators, will take effect September 1, 2016.

The new Consolidated Rules, which combine and replace various provisions of IIROC`s Dealer Member Rules and Universal Market Integrity Rules (UMIR), include:

  • a single set of rules for all enforcement proceedings;
  • a consolidated standard of conduct;
  • clarification of current rules relating to compliance examinations; and
  • updated rules relating to registration approvals and reviews including the authority to impose terms and conditions on Dealer Members to ensure continuing compliance with IIROC requirements.

The Consolidated Rules relating to standards of conduct will apply only to conduct that takes place on or after September 1, 2016. Disciplinary proceedings that begin on or after September 1, 2016 will be governed by the new procedures contained in the Consolidated Rules. Any hearings or examinations that began before that date will continue under the previous procedural rules.

Click on the link above for further details.