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ARTICLE · 05 NOVEMBER 2024

CIRO Releases Phase 4 Of The Rule Consolidation Project

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On October 17, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 4 of its Rule Consolidation Project proposal...

CanadaFinance and Banking
AUM Law
AUM Law
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On October 17, 2024, the Canadian Investment Regulatory Organization (CIRO) published for comment Phase 4 of its Rule Consolidation Project proposal (Proposal) relating to the consolidation of the two sets of rules currently applicable to investment dealers and mutual fund dealers into one set of rules. These Phase 4 changes relate to rules that are mostly unique to the investment dealer and mutual fund dealer rules that have been assessed as having differences deemed to be significant with potential material impacts on stakeholders. Our assessment is that the Proposal will have significant implications for mutual fund dealers.

This phase involves the adoption of rules relating to approval and proficiency for individuals, managing significant areas of risk, and business conduct and client account rules. The Proposal also relates to CIRO review procedures for approvals and membership.

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