IIROC’s plain language rule book republished for comment

IIROC is republishing for comment its proposed Plain Language Rule Book.

The SRO’s Plain Language Rule Book project (PLR Project) aims to rewrite, reformat, rationalize and reorganize its Dealer Member Rules in plain language. The following are the intended benefits of the PLR Project:

• improving the clarity and understanding of the Dealer Member Rules;

• streamlining the Dealer Member Rules by focusing on core requirements and moving non-essential details to guidance;

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• eliminating obsolete, duplicative and unnecessary requirements;

• reorganizing the rule structure in a more logical fashion; and

• clearly stating the objective of each rule.

The primary objective of the PLR Project is to develop rules that are organized, clearer and more concise, without changing the substance of the Dealer Member Rules themselves. However, during the course of the PLR Project, a number of existing Dealer Member Rules were identified that also required substantive revisions in order to update and improve regulatory policy and, in some instances, to conform to requirements under National Instrument 31-103.

Read more here.

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