IIROC has released a revised version of its CRM2 FAQs, which includes both new FAQs and revisions of previously published FAQs.

Here’s where the original was tweaked:

  • FAQ #12, which provides guidance on the calculation and disclosure of individual position cost information for positions acquired through exercising a conversion / exercise / exchange feature embedded within a convertible / exercisable / exchangeable security
  • FAQ #13, which provides revised guidance on the calculation and disclosure of individual position cost information for futures contract positions
  • FAQ #14, which provides a revised response to whether “not determinable” disclosure within the account statement is acceptable when position cost is unavailable
  • FAQ #20, which details the circumstances under which an annual performance report does not have to be issued
  • FAQ #22, which details the circumstances under which an annual fee / charge report does not have to be issued
  • FAQ #23, which details the general disclosure approach to be used for third-party compensation amounts included within the annual fee / charge report
  • FAQ #24, which relieves Dealer Members from the requirement to provide dollar amount information within notes included in the annual fee / charge report under certain circumstances
  • FAQ #25, which details when amounts received under a referral arrangement involving registerable services with another registered firm need not be disclosed within any annual account fee / charge report the referring Dealer Member provides to the client
  • FAQ #26, which confirms that referral fee amounts received under a referral arrangement involving non-registerable services need not be disclosed within an annual fee / charge report provided to the client
  • FAQ #27, which details certain outsourced service fee amounts received under a back office sharing arrangement with another registered firm that need not be disclosed within an annual fee / charge report provided to the client
  • FAQ #28, which details the approach to be used for the disclosure of the commission portion of new issue fees, where applicable, within the annual fee / charge report