Part 1 - Definitions and Interpretation

1.3 Transitional Provision

The Corporation is the corporation continuing from the amalgamation effective January 1, 2023 of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada and as a result, for greater certainty:
1. any reference in these Rules to the Corporation includes the Investment Industry Regulatory Organization of Canada prior to January 1, 2023;
2. any person subject to the jurisdiction of the Investment Industry Regulatory Organization of Canada prior to January 1, 2023 remains subject to the jurisdiction of the Corporation in respect of any action or matter that occurred while that person was subject to the jurisdiction of the Investment Industry Regulatory Organization of Canada at the time of such action or matter; and
3. the provisions of the articles, by-laws, rules, policies and any other instrument or requirement prescribed or adopted by the Investment Industry Regulatory Organization of Canada pursuant to such articles, by-laws, rules or policies, and any approval or ruling granted or issued by the Investment Industry Regulatory Organization of Canada, in each case while a person was subject to the jurisdiction of the Investment Industry Regulatory Organization of Canada shall continue to apply to that person in accordance with their terms and may be enforced by the Corporation.
The Corporation shall continue the regulation of persons subject to the jurisdiction of the Investment Industry Regulatory Organization of Canada that was formerly conducted by the Investment Industry Regulatory Organization of Canada, including any enforcement or review proceedings, in accordance with the by-laws, rules and policies of the Investment Industry Regulatory Organization of Canada, and any other instrument or requirement prescribed or adopted by the Investment Industry Regulatory Organization of Canada pursuant to such by-laws, rules or policies in each case in effect at the time of any action or matter that occurred while that person was subject to the jurisdiction of the Investment Industry Regulatory Organization of Canada.

Defined Terms:

NI 14-101 section 1.1(3) – “jurisdiction

UMIR section 1.2(2) – “person”

There are no related bulletins available for this Rule.

There is no history log for this rule.

Disciplinary History

There is no history log for this rule.

Part 1 - Definitions and Interpretation

1.1 Definitions

1.2 Interpretation

1.3 Transitional Provision

Part 2 - Abusive Trading

2.1 Specific Unacceptable Activities

2.2 Manipulative and Deceptive Activities

2.3 Improper Orders and Trades

Part 3 - Short Selling

3.1 Restrictions on Short Selling – Repealed

3.2 Prohibition on the Entry of Orders

3.3 Reasonable expectation to settle prior to the entry of an order for a short sale

3.4 Short Selling after a Reportable Extended Failed Trade

Part 4 - Frontrunning

4.1 Frontrunning

Part 5 - Best Execution Obligation

5.1 Best Execution of Client Orders – Repealed

5.2 Best Price Obligation – Repealed

5.3 Client Priority

Part 6 - Order Entry and Exposure

6.1 Entry of Orders to a Marketplace

6.2 Designation and Identifiers

6.3 Exposure of Client Orders

6.4 Trades to be on a Marketplace

6.5 Minimum Size Requirements of Certain Orders Entered on a Marketplace

6.6 Provision of Price Improvement by a Dark Order

Part 7 - Trading in a Marketplace

7.1 Trading Supervision Obligations

7.2 Proficiency Obligations

7.3 Liability for Bids, Offers and Trades

7.4 Contract Record and Official Transaction Record

7.5 Recorded Prices

7.6 Cancelled Trades

7.7 Trading During Certain Securities Transactions

7.8 Restrictions on Trading During a Securities Exchange Take‑over Bid – Repealed

7.9 Trading in Listed or Quoted Securities or Derivatives by a Derivatives Market Maker

7.10 Extended Failed Trades

7.11 Variation and Cancellation and Correction of Trades

7.12 Inability to Rely on Marketplace Functionality

7.13 Direct Electronic Access and Routing Arrangements

7.14 Position limits for listed derivatives

Part 8 - Principal Trading

8.1 Client-Principal Trading

Part 9 - Trading Halts, Delays and Suspensions

9.1 Regulatory Halts, Delays and Suspensions of Trading

Part 10 - Compliance

10.1 Compliance Requirement

10.2 Investigations – Repealed

10.3 Extension of Responsibility – Repealed

10.4 Extension of Restrictions

10.5 Suspension or Restriction of Access

10.6 Exercise of Authority – Repealed

10.7 Assessment of Expenses – Repealed

10.8 Practice and Procedure – Repealed

10.9 Power of Market Integrity Officials

10.10 Report of Short Positions

10.11 Audit Trail Requirements

10.12 Retention of Records and Instructions

10.13 Exchange and Provision of Information by Market Regulators

10.14 Synchronization of Clocks

10.15 Assignment of Identifiers and Symbols

10.16 Gatekeeper Obligations of Directors, Officers and Employees of Participants and Access Persons

10.17 Gatekeeper Obligations with Respect to Electronic Trading

10.18 Gatekeeper Obligations with Respect to Access to Marketplaces

10.19 Reporting limits for listed derivatives

Part 11 - Administration of UMIR

11.1 General Exemptive Relief

11.2 General Prescriptive Power

11.3 Review or Appeal of Market Regulator Decisions

11.4 Method of Giving Notice

11.5 Computation of Time

11.6 Waiver of Notice

11.7 Omissions or Errors in Giving Notice

11.8 Transitional Provisions – Repealed

11.9 Non-Application of UMIR

11.10 Indemnification and Limited Liability of the Market Regulator

11.11 Status of UMIR and Policies

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