IIROC Publishes For Comment Proposed Client Focused Reform Amendments

The Investment Industry Regulatory Organization of Canada (IIROC) has published for comment proposed amendments¹ to its rules in order to make IIROC requirements consistent with the Client Focused Reforms (CFRs) adopted by the Canadian Securities Administrators (CSA) by way of amendment to NI 31-103. The CSA CFRs focus on addressing material conflicts of interest in the best interest of the client, putting the client's interests first when making a suitability determination, and providing clarity for clients about what they should expect from their investment advisors. Our previous blog post describes the CFRs made by the CSA.

IIROC CFRs Public Comment Amendments

The IIROC CFR Public Comment Amendments fall into three key areas: