IIROC publishes registration reform rule corrections
On February 12, the Investment Industry Regulatory Organization of Canada (IIROC) published a notice correcting an oversight that left certain proficiency requirements out of the final rule amendments to IIROC's Dealer Member Rules, which related to the implementation of the new registration regime. The final rule amendments inadvertently omitted proficiency requirements for institutional supervisors of futures contracts, futures contract options and options trading. The changes announced last week correct this mistake and are intended to preserve the proficiency requirements existing before registration reform. As the applicable regulators have approved these changes, they are now effective.
