CIRO issues series of guidance updates

In a new wave of releases, the Canadian Investment Regulatory Organization (CIRO) is updating guidance on a range of market regulation topics.

On Monday, the self-regulatory organization issued a series of notices revising guidance as part of its trading rule guidance update project, which was launched last August, and aims to modernize all of the guidance notes on the trading rules.

The goal of the project is to improve the clarity of the existing guidance and to make it easier for dealers to navigate, without creating any new regulatory obligations, or making any material changes to the SRO’s requirements.

“This will help ensure that guidance is easier for investment dealers to find and understand and assist in compliance with [the trading rules],” it said.

The latest updates address the operation of single-stock circuit breakers, the use of market-on-close facilities, and issues such as entering orders on both sides of the market, including exceptions from the general prohibition on wash trading.

They also deal with the use of the regulatory marker correction system, among other things.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.