Industry

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NOTICE OF REQUEST FOR COMMENT

THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)

PROPOSED MATERIAL AMENDMENTS TO
THE UNIVERSAL MARKET INTEGRITY RULES (UMIR),
DEALER MEMBER RULES (DMR) AND FORM 1
TO FACILITATE THE INVESTMENT INDUSTRY’S MOVE TO T+2 SETTLEMENT


IIROC is publishing for public comment amendments to IIROC’s Universal Market Integrity Rules (UMIR), Dealer Member Rules (DMR) and Form 1 (collectively, the Amendments) regarding the investment industry’s move from a trade date plus three business days (T+3) settlement cycle to a trade date plus two business days (T+2) settlement cycle. The primary objective of the Amendments is to ensure that IIROC’s requirements support the investment industry’s move to T+2 settlement at the same time as the U.S., which is scheduled for September 5, 2017. The move to a T+2 settlement cycle will align Canada with the U.S. capital markets and other major international capital markets that have already moved to a T+2 settlement cycle. A copy of the IIROC Notice including the amended documents was also published on our website at http://www.osc.gov.on.ca. The comment period ends on October 26, 2016.