New class of IIROC member proposed

The Investment Industry Regulatory Organization of Canada has published a concept paper proposing to introduce a new class of IIROC Member called “Restricted Dealer Member.”

The paper is part of a framework developed to facilitate the transitioning of firms carrying out brokerage activities through an exempt market dealer registration to an investment dealer registration.

Stakeholders are encouraged to provide input on the issues outlined in the concept paper, which is accessible from the IIROC web site at www.iiroc.ca. The request for comments is open for 90 days.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.