Notice of Commission Approval – Canadian Investment Regulatory Organization (CIRO) – Clarifying Amendments to Registration and Proficiency Requirements – Canadian Investment Regulatory Organization (CIRO)

CIRO rule review and notices
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The Ontario Securities Commission has approved CIRO’s proposed amendments to the Investment Dealer and Partially Consolidated (IDPC) Rules to improve the clarity of the registration and proficiency requirements (Amendments).

More specifically, the Amendments:

  • refine the proficiency requirements in Rule 2600,
  • clarify redundant and ambiguous language in Rules 2500, 2600, 2700, and 3900, and
  • make consequential changes to cross-references and terminology arising from the foregoing changes.

CIRO published the Amendments for comment on August 31, 2023. One comment letter was received. No changes were made to the Amendments in response to the comments received. A summary of the public comments and CIRO’s responses to those comments, as well as the CIRO Implementation Bulletin, including text of the Amendments, can be found at www.osc.ca.

Non-material changes made to the IDPC Rules following the publication for comment were approved by CIRO’s President and Chief Executive Officer and are described in the CIRO Implementation Bulletin.

The Amendments will be effective September 28, 2024.

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 Manitoba Securities Commission; the Northwest Territories Office of the Superintendent of Securities; the Nova Scotia Securities Commission; the Nunavut Office of the Superintendent of Securities; the Office of the Superintendent of Securities, Digital Government and Services, Newfoundland and Labrador; the Office of the Yukon Superintendent of Securities; and the Prince Edward Island Office of the Superintendent of Securities have either not objected to or have approved the Amendments.