Wednesday May 9 2018
News Source: Global Exchanges
Focus: Brokers
Type: General
Country: Canada
Link: http://www.iiroc.ca/Documents/2018/890b5e6b-f551-4d75-a257-e840dd4a9d94_en.pdf
On 8th May 2018, the Investment Industry Regulatory Organisation of Canada (IIROC) published a list of exemptions to its Broker Member Rules.
Rule 11.1 of UMIR allows IIROC to exempt a particular transaction from UMIR provided that, in IIROC’s opinion, the exemption:
- would not be contrary to the provisions of any applicable securities legislation and the regulation and rules
- would not be prejudicial to the public interest or to the maintenance of a fair and orderly market
- is warranted after due consideration of the circumstances of the particular person or transaction.
The report outlines situations where exemptions may be granted by an IIROC District Council, IIROC Staff or the Board Members of IIROC.
For additional information please click the link above.