Industry

REQUEST FOR COMMENT

INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA
(IIROC)

NOTICE OF PROPOSED AMENDMENTS RESPECTING FREE CREDIT CASH SEGREGATED IN TRUST FOR CLIENTS

IIROC is publishing for public comment proposed amendments to its Dealer Member Rules and Form 1 regarding free credit cash segregated in trust for clients (“Proposed Amendments”). The Proposed Amendments remove the inconsistency between the language used to describe the same trust arrangement in Dealer Member Rule 1200.3 and the notes to Statement D of Form 1.

The Proposed Amendments ensure that trust arrangements are appropriately identified at acceptable institutions. In addition, IIROC proposes to issue guidance to clarify its expectations for trust account agreements with acceptable institutions.

A copy of the IIROC Notice, including the text of the Proposed Amendments and the draft guidance, is also published on our website at http://www.osc.gov.on.ca. The comment period ends on September 30, 2019.