The Investment Industry Regulatory Organization of Canada ("IIROC") has published an updated list of priorities and timeframes for initiatives that may require dealer members to act over various periods spanning the next 12 months. The most pressing areas for dealer members relate to IIROC's guidance on borrowing for investment purposes and the use of business titles and financial designations. Both of these initiatives are currently in the implementation phase and may require immediate attention from dealer members.

Over the next three months, dealer members will be expected to turn their minds to issues relating to proposed IIROC guidance on underwriting due diligence (read our summary here), and changes to the Client Relationship Model, fee model guidelines, and transaction reporting.

Over the next 12 months, dealer members can expect proposed rules relating to the consolidation of IIROC enforcement, procedural and other rules, revised plain language rules, and initiatives relating to the execution and reporting of certain off-marketplace trades.

The complete report is available here.

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