Last week, the Investment Industry Regulatory Organization
of Canada (IIROC) adopted a new rule requiring dealers to report debt
securities transactions.
Under this new Dealer Member Rule 2800C, and subject to certain
exceptions, debt market transactions executed by a dealer member
must be reported to IIROC on a post-trade basis (on T+1),
including those executed on an Alternative Trading System or
through an Inter-Dealer Bond Broker. Transaction information will
have to include certain specified data elements, and the Customer
Legal Entity Identifier and Customer Account Identifier will remain
optional fields for the time being, although the requirement will
be reassessed by the Bank of Canada and IIROC within the next
few years. IIROC advises that dealer members who choose to report
the Customer LEI should ensure that their customer has authorized
such disclosure to IIROC. Similar reporting requirements for
transactions of dealer members' affiliates who are
