IIROC Extends Timeline For COVID-19 Related Exemptive Relief

The Investment Industry Regulatory Organization (IIROC) continues to accept exemption applications and extends existing relief to firms impacted by the COVID-19 pandemic.

On January 5, 2021, IIROC published a notice extending staff's authority to review COVID-19 related exemptive relief applications until March 31, 2021. As we had , on March 31, 2020, IIROC announced that it would consider applications for temporary exemptive relief from certain Dealer Member Rule requirements for firms experiencing hardships due to the COVID-19 pandemic.  In order to facilitate the timely consideration of each exemption application, discretion was delegated to senior staff members to assess and decide upon exemption applications for a limited period of time which has now been extended.    In addition, staff has also been granted the authority to extend existing exemptions until June 30, 2021.