On January 29, 2020, IIROC’s Board of Directors approved housekeeping amendments (Amendments) to the following provisions of the Universal Market Integrity Rules (UMIR):

• UMIR 1.1 – Definition of “order execution service”
• Subparagraph (a)(iv) of subsection 6.2(1) – Designations and Identifiers
• Part 5 of Policy 6.4 – Application of UMIR to Orders Not Entered on a Marketplace
• Part 3 of Policy 7.1 – Supervision and Compliance Procedures for Trading on a Marketplace
• Part 4 of Policy 7.1 – Specific Procedures Respecting Client Priority
• Part 1 of Policy 8.1 – General Requirements for Client-Principal Trading
• Paragraph (e) of subsection 10.16(1) – Gatekeeper Obligations of Directors, Officers and Employees of Participants and Access Persons.

The Amendments replace rule references to the Dealer Member Rules with provisions of the IIROC Rules1 as follows:

• Dealer Member Rule 3200 – Minimum Requirements for Dealer Members Seeking Approval under Rule 1300.1(t)  to offer an Order-Execution Only Service with Part D of IIROC Rule 3200 – Order Execution Only Accounts in the definition of “order execution service” of UMIR 1.1
• Dealer Member Rule 3200 with IIROC Rule 3241 in paragraph (1)(a) of section 6.2

• Dealer Member Rule 3300 with Part C of IIROC Rule 3100 – Best Execution of Client Orders in Part 5 of Policy 6.4, Parts 3 and 4 of Policy 7.1, Part 1 of Policy 8.1, and paragraph (e) of subsection UMIR 10.16(1).

The Amendments will become effective on June 1, 2020.

• 1IIROC Notice 19-0144 – Rules Notice – Notice of Approval/Implementation – Implementation of IIROC
  Dealer Member Plain Language Rule Book (August 22, 2019).