CIRO MFD Rule 2.5.3

Requires the designations of an individual registered under applicable securities legislations as a chief compliance officer. The CCO must be an officer, partner or sole proprietor.

Rule Overview

Jurisdiction: Canada

Regulator: CIRO

Topic: Compliance Personnel

CIRO MFD Rules

Overview

Latest News

The chief compliance officer has a number of responsibilities including the establishment and maintenance of policies and procedures for the assessment of compliance by the firm with relevant rules and regulations.

An alternate individual, also qualified as a CCO under securities regulations, must also be designated.

Rule 2.5.3(b)(i)

Establish and maintain policies and procedures

Rule 2.5.3(b)(ii)

Monitor and assess compliance

Rule 2.5.3(b)(iii)

Report non-compliance as soon as possible to ultimate designated person

Rule 2.5.3(b)(iv)

Report to the board of directors or partners

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