IIROC is publishing for comment proposed amendments (Proposed Amendments) to IIROC Rule 9500 (Rule 9500) to eliminate restrictions on information IIROC can receive from its approved ombudsman service, the Ombudsman for Banking Services and Investments (OBSI).

A blackline of Rule 9500 reflecting the Proposed Amendments is set out in Appendix A. A clean version of Rule 9500 reflecting the Proposed Amendments is set out in Appendix B.

IIROC is publishing for comment proposed amendments (Proposed Amendments) to IIROC’s Universal Market Integrity Rules (UMIR) and the IIROC Rules that would:

• replace the definition of a “non-client order” or “non-client account” with new definitions of “Dealer Related Person order” and “Dealer Related Person account”
• introduce a new definition of “Dealer Member account” into the IIROC Rules.

By implementing the Proposed Amendments, we would ensure consistency:

IIROC is republishing for comment revisions to the previously published proposed amendments to its Dealer Member Rules (DMRs) and Form 1 (collectively, the Proposed Amendments). The Proposed Amendments  are designed to bring debt securities with a normal margin rate of 10% or less (debt securities margined at <=10%) into the existing securities concentration test, and also update the use of credit ratings, and references to credit rating agencies, in the DMRs and Form 1.

IIROC is publishing for comment proposed amendments (Proposed Amendments) to the Dealer Member Rules (DMR) that would require Dealer Members to report the following client identifiers for transactions in debt securities:

IIROC is proposing amendments to Rule 2650 – Continuing Education Requirements for Approved Persons (the CE Rules) to address feedback we received following the implementation of our revised continuing education (CE) program.

On February 22, 2018, IIROC published a preliminary proposal (Notice 18-0045) requesting comments on two proposed alternative forms of disciplinary action:

On March 27, 2019, the Board of Directors (the Board) of the Investment Industry Regulatory Organization of Canada (IIROC) approved for publication for comment proposed amendments to subsection 5.3(2) of IIROC By-law No. 1 (the By-law) to change the way in which Director term limits are calculated.

The amendment is subject to final Board, regulatory and Member approvals.  IIROC intends to seek Member approval of the amendment at its Annual General Meeting in September 2019.

The emergence of “digital assets” or “crypto assets” continues to be a growing area of interest for regulators globally. Innovations like distributed ledger technology (DLT) and crypto assets are relatively new and are transforming the landscape of the financial industry. Interest in crypto assets among investors, governments and regulators globally has increased significantly since the creation of bitcoin in 2008 and continues to grow.

Like many jurisdictions globally, the Canadian equity market has evolved rapidly over recent years. Multiple competing marketplaces have launched operations, new participants have entered the market and the ways in which market participants interact have changed. The technology and tools available to achieve a variety of investing and trading objectives have modernized the Canadian market and made it more efficient. This evolution has in turn raised new issues to consider.

IIROC is requesting comment on proposed amendments (Proposed Amendments) to Dealer Member Rule 3200 Minimum Requirements for Dealer Members Seeking Approval Under 1300(T) to Offer an Order-Execution Only Service (DMR 3200) that would: