Canada:
IIROC Republishes Proposals To Implement CRM
10 January 2011
Stikeman Elliott LLP
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The Investment Industry Regulatory
Organization of Canada today republished a proposal to
implement core aspects of its Client Relationship Model Project.
IIROC's proposal would address issues relating to relationship
disclosure, conflicts of interest management and disclosure,
suitability assessment and account performance reporting. Proposed
transition periods would range from the immediate implementation
for certain provisions relating to conflict identification to three
years for certain disclosure to existing clients.
IIROC also stated that the CSA are expected to
publish proposed amendments to National Instrument 31-103
Registration Requirements and Exemptions to
introduce cost disclosure and performace reporting requirements for
all registered dealers and advisers.
Proposals to address CRM issues were originally published in
February 2008 and
revised rules were subsequently released in April
2009. IIROC's proposal also includes responses
to comments received to its April 2009 proposals. Comments on
today's proposals are being accepted for 60 days.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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