REQUEST FOR COMMENT
INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
NOTICE OF PROPOSED DERIVATIVES RULE MODERNIZATION, STAGE 1
IIROC is publishing for public comment proposed amendments to its Dealer Member related plain language rules arising from its derivatives rule modernization project, Stage 1. The stated objectives of the proposed amendments are to:
- ensure its rules continue to be materially harmonized with the equivalent Canadian Securities Administrators requirements as they apply to securities and derivatives;
- more clearly specify which of the core regulatory obligations apply to securities, listed derivatives and over-the-counter derivatives; and
- eliminate inconsistencies in the regulatory treatment of securities, listed derivatives and over-the-counter derivatives, where justified.
Due to the extent and nature of these proposed amendments, IIROC is publishing for public comment in two separate stages:
- Currently, Stage 1 includes all amendments IIROC proposes to make (other than those relating to margin requirements); and
- At a later date, Stage 2 will include proposed amendments relating to the margin requirements.