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ARTICLE · 30 JULY 2023

CIRO Rule Consolidation Project: The Journey Begins

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When the MFDA and IIROC merged, the impact on the Rules governing the day-to-day business of existing Member dealers was not significant.

CanadaGovernment, Public Sector
Rebecca Cowdery
Rebecca Cowdery
William (Bill) Donegan
William (Bill) Donegan
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Introduction

When the MFDA and IIROC merged, the impact on the Rules governing the day-to-day business of existing Member dealers was not significant. The existing dealer rules were repackaged, with minor modifications, as the Investment Dealer and Partially Consolidated (IDPC) Rules and the Mutual Fund Dealer (MFD) Rules. In the Fiscal 2024 Annual Priorities of the Canadian Investment Regulatory Organization (CIRO), it is a stated priority to consolidate the dealer rules into a single consolidated set of rules applicable to investment dealers and mutual fund dealers. On June 30, 2023, CIRO published a notice titled Rule Consolidation Project Update, which outlined the project principles and objectives, decisions made to date, a phased approach to drafting and implementation, and progress to date. In this note we summarize the status of the project.

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