Firms offering order execution only services and activities will be interested in reviewing guidance published for comment by IIROC. The proposed guidance represents an update of Member Regulation Notice MR-098 What Constitutes a “Recommendation”? Is a Suitability Determination Required Under Regulation 1300.1. According to IIROC, since the publication of Member Regulation Notice MR-098 the order execution only business model has evolved significantly.

For further information, please see IIROC Notice 16-0251. Comments on the proposed guidance are to be submitted to IIROC by December 19, 2016.