On May 10, 2016, the Investment Industry Regulatory Organization of Canada (IIROC) announced that it is extending the deadline for unwinding existing trustee, executorship and power of attorney arrangements prescribed by Dealer Member Rule 43.2(5)(i) to 180 days after the implementation of the final amendments to unwind existing arrangements, unless provided at the time the amendments are finalized. IIROC previously required such amendments to be unwound by September 13, 2016.

For further information, please see IIROC Notice 16-0100 Personal Financial Dealings with Clients and our previous post on the subject.