top of page
  • Deborah

On April 14, the Investment Industry Regulatory Organization of Canada (IIROC) republished for comment its Proposed Derivatives Rule Modernization, Stage 1 (the ‘Proposed Rule’).


Highlights the proposed changes include:

  • Definition of ‘security’, currently not defined in IIROC Rules

  • Revision of the definition of ‘derivative’ in accordance with provincial securities, derivatives and commodity futures legislation

  • Inclusion of derivatives within the “securities related business” definition

  • Revision to “institutional client” definition

  • Revision of the business continuity plan requirements

  • Extension of the current derivatives-specific business conduct requirements to all derivatives transactions, positions and accounts

  • Revision of the client disclosure and periodic client reporting requirements

The Proposed Rule was first released for comment on November 21, 2019 through Rule Notice 19-2000.


Comments are to be submitted by June 13, 2022.


Recent Posts

See All

Information, Communication Technology (ICT) systems, generally includes all hardware, software, applications and systems that combined enable people and organizations to communicate digitally. ICT enc

25 January 2023 - Comments requested on Financial Conduct Authority (FCA) proposed Sustainability Disclosure Requirements (SDR) and investment labels. 6 February 2023 - Comment period closes for the u

Last November, 2022 the Bank for International Settlements (BIS) and the International Organization of Securities Commissions (IOSCO) published their Level 3 assessment of cyber resilience on 37 Finan

bottom of page