Completion of UMIR Guidance Update Project

As part of CIRO’s Annual Priorities for fiscal 2026, we have been working on the UMIR Guidance Update Project to review and modernize all guidance notes on the Universal Market Integrity Rules (UMIR).

The purpose of the UMIR Guidance Update Project is to make non-material changes to improve clarity and accuracy as well as update content where appropriate. This will help ensure that guidance is easier for investment dealers to find and understand and assist in compliance with UMIR.

The UMIR Guidance Update Project is complete as of March 27, 2026. Additional information and the guidance notes that have been updated as part of Phases 1 and 2 of this project can be found on the UMIR Guidance Update Project Webpage.

A small subset of guidance notes was not republished as part of this project. These guidance notes will either be addressed separately as individual policy projects as they require material changes or were deemed to be no longer relevant and not practical to update.