IIROC revises guidance on non-arm’s length investments

On February 5, 2010, IIROC issued a draft guidance note that set out its expectations regarding best practices for the distribution of non-arm’s length investment products.

These are vehicles issued by:

• the dealer member itself; or
• an issuer or a selling security holder with which a dealer member does not deal at arm’s length, or
• an issuer or a selling security holder with which a dealer member is otherwise connected or related

The guidance has been amended to address the comments IIROC received. It received eight response letters and has responded the comments submitted.

Read the comments and responses.

Also read:

IIROC to focus on KYC, risk management

IIROC issues guidance on designations

Don’t get caught in regulatory traps

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.