TORONTO, Nov. 25, 2013 /CNW/ - The Investment Industry Regulatory
Organization of Canada (IIROC) today issued final guidance designed to increase the efficiency of the disclosure process for trade
confirmations from Dealer Members.
The guidance consolidates and clarifies acceptable marketplace and
average price disclosure language for use on trade confirmations. In
particular, it permits Dealer Members to use general average price
disclosure language on all trade confirmations, regardless of whether a
transaction price represents an average of multiple trade execution
prices or the price of a single trade.
Requirements remain for clients to be able to obtain further details of
the execution of any order at no cost from Dealer Members, and trade
confirmations still must contain requisite information such as price
and commission charges.
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services Inc.,
IIROC sets high quality regulatory and investment industry standards,
protects investors and strengthens market integrity while maintaining
efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian equity marketplaces.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
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