IIROC issues Restricted Dealer Member Proposal for Comment

Jul 12, 2012, 11:00 ET from Investment Industry Regulatory Organization of Canada (IIROC) - General News

TORONTO, July 12, 2012 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) today published for comment a concept paper that proposes to introduce a new class of IIROC Member called "Restricted Dealer Member".

The "Restricted Dealer Member" proposal is part of a framework developed to facilitate transitioning firms carrying out brokerage activities through an exempt market dealer registration to an investment dealer registration and subject to IIROC supervision.

Stakeholders are encouraged to provide input on the issues outlined in the concept paper which is accessible from the IIROC web site at www.iiroc.ca.  The request for comments is open for 90 days.


IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.  Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News