2107. Ownership of another Dealer Member

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    1. An industry investor is prohibited from purchasing the securities of a Dealer Member or its holding company, other than in the Dealer Member or holding company in which the industry investor is approved, except if:
      1. there is public ownership of the class of securities as a result of a distribution made in compliance with securities laws and the industry investor will not hold a significant equity interest,
      2. the Dealer Member is a related company or an affiliate of the Dealer Member in which the industry investor was approved to invest, or
      3. the following apply:
        1. the investment does not exceed 10% of any class of the issued equity or voting shares,
        2. the industry investor notified IIROC of the investment, 
        3. where the industry investor is regulated by another securities regulatory authority, the industry investor has provided IIROC with evidence that the securities regulatory authority does not object to the relationship, and
        4. the Dealer Member that the industry investor was approved to invest in does not object to the investment.

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