Re-publication of Proposed Derivatives Rule Modernization, Stage 1

The Canadian Investment Regulatory Organization (CIRO) is publishing for a third comment period proposed amendments to modernize and simplify its derivatives-related requirements.1

We have made additional revisions to the proposed amendments set out in the previous two publications (the Revised Proposed Amendments) to:

• incorporate them in the most recent version of the Investment Dealer and Partially Consolidated Rules (IDPC Rules), formerly the IIROC Rules, which came into effect on January 1, 2023, and
• introduce changes to address concerns and suggestions received from commenters and the Canadian Securities Administrators (CSA).

These revisions are necessary to ensure consistency with the anticipated final version of CSA National Instrument 93-101 Derivatives: Business Conduct (NI 93-101).

• 1For previous publications, see Rules Notice 19-0200, published on November 21, 2019 and Rules Notice 22-0055, published on April 14, 2022.