IIROC increases arbitration program award limit

Posted on January 17, 2011

The Investment Industry Regulatory Organization of Canada (IIROC) announced last week that, following consultations undertaken last year, it has decided to increase the award limit under its arbitration program to $500,000. Further, IIROC is amending the program's rules of procedures to allow claimants to opt to eliminate an arbitrator's discretion to award costs in most circumstances. For more information on the amendments, which are effective as of today, see IIROC Notice 11-0016.

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