Request for Comment – Rule Consolidation Project – Phase 4 – Canadian Investment Regulatory Organization (CIRO)

CIRO rule review and notices
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CIRO is publishing for comment Phase 4 of its Rule Consolidation Project rule proposals. The Rule Consolidation Project will bring together the two member regulation rule sets currently applicable to investment dealers (IDPC Rules) and to mutual fund dealers (MFD Rules) into one set of member regulation rules applicable to both categories of CIRO Dealer Members.

The objective of Phase 4 of the Rule Consolidation Project (Phase 4 Proposed DC Rules) is to adopt requirements that are mostly unique to the IDPC and MFD Rules and have been assessed as having differences deemed to be significant with potential material impacts on stakeholders. 

The Phase 4 Proposed DC Rules involves the adoption of rules relating to:

  • approval and proficiency for individuals,
  • managing significant areas of risk, and
  • business conduct and client accounts rules.

A copy of the CIRO Bulletin, including the text of the Phase 4 Proposed DC Rules, is also available on the Commission’s website at www.osc.ca. The comment period ends on February 4, 2025.