IIAC RESPONDS TO IIROC’S REQUEST FOR COMMENTS RE: CLIENT FOCUSED REFORMS
The IIAC responded to request for comments on proposed rule amendments intended to harmonize IIROC rules with the CSA Client Focused Reforms (CFRs).
The IIAC CFR Working Group submission outlined our support for harmonization of IIROC and CSA rules, but raised areas of concern and/or need for clarification, both with respect to the proposed rule amendments and the proposed Product Due Diligence and Know-Your-Product (KYP) Guidance. Most of our comments related to technical drafting points, given that the substantive aspects of the CFRs are not the subject of review.
Some key areas that the IIAC commented on include:
Click here to read our submission. If you have any questions, please contact Michelle Alexander or Adrian Walrath.