IIROC finalizes guidance on streamlined trade confirmation disclosure

TORONTO, Nov. 25, 2013 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) today issued final guidance designed to increase the efficiency of the disclosure process for trade confirmations from Dealer Members.

The guidance consolidates and clarifies acceptable marketplace and average price disclosure language for use on trade confirmations. In particular, it permits Dealer Members to use general average price disclosure language on all trade confirmations, regardless of whether a transaction price represents an average of multiple trade execution prices or the price of a single trade.

Requirements remain for clients to be able to obtain further details of the execution of any order at no cost from Dealer Members, and trade confirmations still must contain requisite information such as price and commission charges.

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IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News

Karen Archer
Senior Media & Public Affairs Specialist
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Lucy Becker
Vice President, Public Affairs
416 943-5870
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