announcement_4

IIROC is republishing for further public comment revised proposed amendments to Dealer Member Rule 200 and Form 1 (collectively the IIROC 2015 and 2016 CRM2 Amendments) to address the following remaining regulatory objectives identified under the Client Relationship Model project:

  • Enhanced trade confirmation and account statement reporting;
  • Quarterly reporting on certain off-book client holdings;

Read: IIROC republishes remaining CRM reforms

  • Annual account performance reporting; and
  • Annual account fee / charge reporting.

IIROC has already announced the implementation of rule amendments to address the following regulatory objectives under the Client Relationship Model project:

  • Account relationship disclosure;
  • Management and disclosure of conflicts of interest
  • Account suitability;
  • Pre-trade compensation disclosure; and
  • Enhanced trade confirmation reporting.

Implementation of these amendments was announced on:

  • March 26, 2012, in the case of the amendments collectively referred to as the “IIROC CRM1 Amendments”, with all requirements to be effective by March 26, 2014; and

Read: Meeting the challenge of CRM2

  • May 29, 2014, in the case of the amendments collectively referred to as the “IIROC 2014 CRM2 Amendments”, with all requirements to be effective by July 15, 2014.

The IIROC 2015 and 2016 CRM2 Amendments are being republished at this time in order to receive public comment on a revision to the proposed IIROC rule requirements that have been requested by CSA staff.

Read more here.

Also read:

IIROC handed out $5.3 million in fines

Compliance roundup: September 2014

Originally published on Advisor.ca

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