IIROC adopts new rule to clarify prohibition on personal financial dealings with clients and conduct of outside business activities

IIROC announced yesterday that it is adopting a new rule to clarify that approved persons and dealers are generally prohibited from engaging in personal financial dealings with clients. IIROC is also codifying its previous position regarding the need for registered representatives and investment representatives to disclose to, and seek approval from, their dealers in order to engage in outside business activities. Guidance on outside business interests was also published. IIROC first proposed the amendments in May 2010. Draft guidance on outside business activities, meanwhile, was first published in May 2011.

The rule amendments take force on December 13, 2013. For more information, see IIROC Rules Notices 13-0162 and 13-1063.

Trackbacks (0) Links to blogs that reference this article Trackback URL
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.

Remember personal info?