The Investment Industry Regulatory Organization of Canada wants to boost the efficiency of the disclosure process for trade confirmations from dealer members.
Today, the SRO released a proposal for comment that outlines how it wants to consolidate and clarify acceptable marketplace and average price disclosure language for use on trade confirmations.
In particular, IIROC says it aims to address requests from dealer members about the disclosure language used for trade confirmations. It has found firms don’t want to be required to produce separate price disclosure language when a transaction reflects only one trade.
If the proposal goes through, clients will be able to obtain further details of the execution of any order at no cost from dealer members.