The Investment Industry Regulatory Organization of Canada (IIROC) re-published proposed amendments to the IIROC Dealer Member Rules regarding investor awareness initiatives.
The proposed amendments are intended to raise public awareness of IIROC's role in capital markets oversight; educate investors about the benefits of dealing with IIROC-member firms and to help investors assess the regulatory status of firms and advisors. The proposed amendments will require that the IIROC logo appear on client account statements, but not trade confirmations as was previously proposed. In addition, the proposed amendments would require that IIROC's official brochure be provided to new retail clients. Existing clients may be provided with a brochure upon request. A hyperlink to IIROC's AdvisorReport, a searchable database providing background information on advisors, must also be included on certain pages of a dealer member's website.
The proposed amendments were materially revised from a prior version of the same proposed amendments published in 2011 and 2014. For further information, please see IIROC Rules Notice 15-0248.
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