Proposed Dual Registration amendments – Proposed CIRO Rules

The Canadian Investment Regulatory Organization (CIRO) is publishing for comment amendments on the Proposed CIRO Rules (the “Proposed Dual Registration amendments”).

The Proposed Dual Registration amendments retire the dual registration regulatory construct by repealing the proficiency upgrade requirement for mutual fund-only advisors who work at an Investment Dealer Member and codifying exemptive relief conditions under which existing dual-registered firms operate. This change will simplify registration requirements and provide a unified framework across all Dealer Members.