Notice of Commission Approval – Dealer Member Plain Language Rule Book – Investment Industry Regulatory Organization of Canada (IIROC)

Updated – April 16, 2020 – Revised Implementation Date. In view of the COVID-19 pandemic and to reduce regulatory burden, IIROC published a Technical Notice – 20-0079 Revised Implementation Date of the IIROC Dealer Member Plain Language Rule Book and Update on the Client Focused Reforms which revised the implementation date for the Plain Language Rule Book. The intended implementation date will be December 31, 2021 or as otherwise determined by IIROC.

The Ontario Securities Commission has approved IIROC’s proposed Dealer Member Plain Language Rule Book (the PLR Rule Book). IIROC initiated a project in 2009 to rewrite, reformat, rationalize, and reorganize its Dealer Member Rules in plain language.

IIROC originally published for comment in a number of discrete tranches. The PLR Rule Book was compiled and published for comment on March 10, 2016, March 9, 2017 and January 18, 2018. IIROC has made non-substantive changes to the rules as published in 2018 in response to comments received. A summary of the public comments and IIROC's responses, as well as the IIROC Notice including the approved PLR Rule Book, can be found at http://www.osc.gov.on.ca.

The PLR Rule Book will be effective on June 1, 2020, except for certain sections where the implementation will be delayed to allow Dealer Members additional time to make any necessary operational adjustments.

In addition, the Alberta Securities Commission; the Autorité des marchés financiers; the British Columbia Securities Commission; the Financial and Consumer Affairs Authority of Saskatchewan; the Financial and Consumer Services Commission of New Brunswick; the Legal Registries Division, Department of Justice (Northwest Territories); the Legal Registries Division, Department of Justice (Nunavut); the Manitoba Securities Commission; the Nova Scotia Securities Commission; the Office of the Superintendent of Securities, Service Newfoundland and Labrador; the Office of the Yukon Superintendent of Securities; and the Prince Edward Island Office of the Superintendent of Securities Office have approved or not objected to the PLR Rule Book.