On January 20, the Investment Industry Regulatory Organization of Canada (IIROC) issued a notice, stating that effective January 21, 2009 all IIROC Dealer Members are to use IIROC's new web-based UN Reporting System to submit reports mandated under 83.11 of the Criminal Code, section 7 of the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism, subsection 11(2) of the Regulations Implementing the United Nations Resolution of the Democratic People's Republic of Korea and the Regulations Implementing the United Nations Resolutions on Iran (the three regulations enacted under the United Nations Act). The old method of reporting will no longer be valid. Each Dealer Member must appoint a person within their organization, by no later than February 15, 2009, to act as the UN Report Administrator, failing which the Chief Compliance Officer will be appointed by default.

The Dealer Member reporting obligations are described in IIROC Member Regulation Notices MR0102 and MR0458.