Republication of Proposed Amendments — Fully paid lending and financing arrangements

Comments Due By: November 16, 2025

The Canadian Investment Regulatory Organization (CIRO) is publishing for comment proposed revisions to the Investment Dealer and Partially Consolidated (IDPC) Rules amendments relating to fully paid securities lending and financing arrangements, originally published in Bulletin 24-0067 (Revised Proposed Amendments).

We are particularly seeking comments on our revised proposal not to proceed with codifying the existing restriction that limits retail fully paid securities lending to non-registered accounts (RevisedAccount Restriction). Contemplated amendments to the Income Tax Act (ITA), which would clarify the permissibility of fully paid lending in registered accounts, calls into question the basis for maintaining this restriction under our rules. By making this revision now, we aim to ensure regulatory harmonization and minimize the need for future rule revisions.