The Investment Industry Regulatory Organization of Canada yesterday published guidance on marketplace and average price disclosure language that will be considered acceptable on trade confirmations. As we discussed earlier this year, IIROC released proposed guidance in September, with the final version clarifying that the required disclosures may be located on the back side of the trade confirmation. A summary of comments received to the initial proposal was also published.

For more information, see IIROC Notice 13-0283 (guidance) and IIROC Notice 13-0282 (summary of comments).