IIROC proposes guidance to streamline trade confirmation disclosure

TORONTO, Sept. 25, 2013 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) is requesting comments on draft guidance published today that is designed to increase the efficiency of the disclosure process for trade confirmations from Dealer Members.

The proposed guidance consolidates and clarifies acceptable marketplace and average price disclosure language for use on trade confirmations. In particular, it addresses requests from Dealer Members to use general average price disclosure language on all trade confirmations so they are not required to produce separate price disclosure language when a transaction reflects only one trade.

Clients will be able to obtain further details of the execution of any order at no cost from Dealer Members.

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

Lucy Becker
Vice-President, Public Affairs
416.943.5870 or [email protected] 

Sherri Haigh
Manager, Corporate Communications
416.943.6921 or [email protected]