CIRO – Rule Consolidation – Phase 5

CIRO – Rule Consolidation – Phase 5

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CIRO – Rule Consolidation – Phase 5

Letter Summary:

The Canadian Investment Regulatory Organization (CIRO) is publishing for comment Phase 5 of its Rule Consolidation Project rule proposals.

The objective of Phase 5 of the Rule Consolidation Project is to adopt requirements that are common to the IDPC and MFD Rules and have been assessed as having differences deemed to be significant with potential material impacts on stakeholders.

The Phase 5 Proposed DC Rules involves the adoption of rules relating to:

Overview of the Council’s Comments:

The Canadian Advocacy Council (CAC) responded to CIRO Bulletin 24-0276, commending CIRO’s progress on harmonizing regulatory requirements through its Phase 5 rule consolidation project. The CAC emphasized the importance of clear guidance and adequate transition periods to support effective implementation and maintain investor protection.

Highlights of the CAC’s Submission:

The CAC affirmed that the DC Rules reflect the project’s objectives without introducing undue burden and praised CIRO’s engagement with stakeholders.