New CIRO Complaint Handling Brochure and Reminder Regarding Deadline to Update Membership Disclosures to CIRO

Background

Currently, investment dealer members are required to provide the “Making a Complaint” and “How Can I Get My Money Back” brochures1 (the “IIROC Complaint Brochures”) and mutual fund dealer members are required to provide the MFDA Client Complaint Information Form (“MFDA CCIF”)2 , to all new clients, clients who have submitted a written complaint, and when responding to a client complaint.

CIRO is pleased to announce the availability of a new CIRO branded “How to Make a Complaint” brochure (the “CIRO Complaints Brochure”) that replaces both the IIROC Complaint Brochures and the MFDA CCIF. This bulletin provides information for both investment dealer members and mutual fund dealer members regarding the transition to the new CIRO Complaint Brochure and provides a reminder of the requirements regarding the transition to the CIRO branded membership disclosure and brochures by December 31, 2024.

CIRO Complaints Brochure

The newly updated CIRO Complaints Brochure consolidates the IIROC Complaint Brochures and the MFDA CCIF into one streamlined document ensuring investors have a single comprehensive source for all information related to the complaint handling process. This consolidation simplifies access and enhances clarity, while maintaining the substance of the original documents. Updates have been made to reflect current complaint handling procedures, CIRO's branding and contact details. The CIRO Complaints Brochure underwent investor testing in both English and French to confirm its effectiveness in helping investors to better understand the complaints process.

Transition to the CIRO Complaint Brochure

Both investment dealer members and mutual fund dealer members may now begin providing the CIRO Complaints Brochure in place of the IIROC Complaint Brochures and MFDA CCIF at the required client touch-points. Consistent with prior communications3 regarding membership disclosure and brochures, dealer members must transition to the CIRO Complaints Brochure by December 31, 2024.

The revised Complaints Brochure can be downloaded at CIRO Official Brochures. Dealer members may print the brochure using their own printing service or provide electronic copies to clients.

Reminder Regarding Deadline to Transition to CIRO Membership Disclosure and Brochures

Dealer members are reminded of the previously communicated deadline of December 31, 2024 to update all required membership disclosures and brochures. In addition to this bulletin, dealer members are encouraged to review Bulletin 23-0102 on Membership Disclosure Requirements and Bulletin 23-0153 on the CIRO Official Brochure regarding the transition to CIRO branded membership disclosure and brochures.

As previously discussed in the bulletins above, mutual fund dealers should continue to follow the requirements of the MFDA Membership Policy and investment dealers should continue to follow the requirements of the IIROC Membership Disclosure Policy. Harmonization of membership disclosure requirements will be assessed as part of Phase 3 of the rule consolidation project which will consolidate investment dealer and mutual fund dealer rules.

The table below summarises the membership disclosure and brochure transition requirements for investment dealer members and mutual fund dealer members.

• 1CIRO IDPC Rules 3724, 3725, 3726
• 2CIRO MFD Rules 300(6), 300(11)(1) and 300(11)(2)
• 3CIRO Bulletin 23-0102 and 23-0153