Housekeeping amendments to Form 1 for use in, and consistency, with the Plain Language Dealer Member Rules Rule Book

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19-0180
Type: Other Notice
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Other

Contact:

Catherine Drennan
Manager, Financial Information, Member Regulation Policy
Telephone:
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On March 27, 2019, the Board of Directors (the Board) of the Investment Industry Regulatory Organization of Canada (IIROC) approved the housekeeping amendments to Form 1 for use in, and consistency, with the terms and drafting protocol used in the Plain Language Dealer Member Rules (PLR) Rule Book (the Housekeeping Amendments).

Summary of Housekeeping Amendments

The Housekeeping Amendments are housekeeping amendments to the amended Form 1 in IIROC Notice 19‑0146 Amendments to Form 1 for use in, and consistency, with the Plain Language Dealer Member Rules Rule Book (“Notice 19‑0146”) (blacklined in Appendix A) and to current Form 1 (blacklined in Appendix B).

The Housekeeping Amendments:

  • replace the term “Corporation” where it means the Investment Industry Regulatory Organization of Canada with “IIROC”
  • italicize all PLR Rule Book and Form 1 defined terms that are used in Form 1
  • change each Form 1 defined term to its singular form in its definition
  • replace current Dealer Member Rule references with corresponding PLR Rule Book references
  • correct the description of the term “Valuation” in the Prescribed IFRS departure table.

We have classified our amendments to Form 1 as “housekeeping” because:

  • they make stylistic changes to defined terms by italicizing them
  • they make a necessary changes of an editorial nature such as standardization of terminology and correction of a description of a term
  • there is no material impact on investors, issuers, Dealer Members or the capital markets in any province or territory of Canada.

The following 10 Form 1 documents did not require any changes regarding the Housekeeping Amendments and have not been included in the Appendices:

  • Independent Auditor’s Report for Statements A, E and F (no change to it because it is a standard sample auditor’s report)
  • Independent Auditor’s Report for Statements B, C and D (no change to it because it is a standard sample auditor’s report)
  • Statement B Supplemental (Statement B – Line 22: Details of Unresolved Differences)
  • Statement F (Statement of changes in capital and retained earnings (corporations) or undivided profits (partnerships)
  • Notes (Notes to the Form 1 financial statements)
  • Schedule 1 (Analysis of loans receivable, securities borrowed and resale agreements)
  • Schedule 4 (Analysis of clients’ trading accounts long and short)
  • Schedule 6 (Income taxes)
  • Schedule 7 (Analysis of overdrafts, loans, securities loaned and repurchase agreements)
  • Schedule 11 (Unhedged foreign currencies calculation).

Appendices

Appendix A – Black‑line comparison of housekeeping amendments to amended Form 1 in Notice 19-0146

Appendix B – Black‑line comparison of housekeeping amendments to current Form 1

Appendix C – Clean copy of housekeeping amendments to amended Form 1 in Notice 19‑0146

Appendix D – Clean copy of housekeeping amendments to current Form 1

Implementation

The Housekeeping Amendments will be effective on June, 1, 2020.