IIROC amends membership disclosure policy

IIROC has published final rule amendments that set out requirements for IIROC Dealer Members to disclose that they are regulated by IIROC and link their websites directly to IIROC’s searchable database of advisors working for these firms.

By Staff | June 16, 2016 | Last updated on June 16, 2016

1 min read

IIROC has published final rule amendments that set out requirements for IIROC Dealer Members to disclose that they are regulated by IIROC and link their websites directly to IIROC’s searchable database of advisors working for these firms.

Read: IIROC boss wants crackdown on jurisdiction shoppers

The new IIROC Membership Disclosure Policy is designed to raise public awareness about which investment firms and individuals are regulated by IIROC, and the requirements and ethical and professional standards to which they must adhere. Investors will also be able to check if the firm or individual has been disciplined by IIROC.

Effective January 1, 2017, under IIROC’s requirements, dealer members must:

display the IIROC logo at each business location to which the public has access;
distribute the IIROC official brochure, in print or electronic format, to new retail clients at account opening and existing retail clients upon request;
include the IIROC logo and a link to the IIROC website on the home page of their websites; and,
when providing services to retail investors, include a link and clearly visible reference to IIROC’s online advisor check database (IIROC AdvisorReport) on their website homepage and on any other Dealer Member webpage that includes a profile of an IIROC-regulated investment advisor.

Effective July 1, 2018, investment firms must include the IIROC logo on all client account statements.

Also read:

Brush up on CRM2 referral fee rules

IIROC’s checklist for helping senior clients