General Ruling/Order 33-901 Suitability Requirements
On July 12, 2001 the Saskatchewan Securities Commission made General
Ruling/Order 33-901 Suitability Requirements ("GRO 33-901").
GRO 33-901 waives the suitability requirement set out in subsection 26(4)
of The Securities Regulations for members of the Investment Dealers
Association of Canada who comply with the IDA’s new suitability regime.
Under the new regime the suitability requirement applies only to securities
which IDA members recommend to their clients.
The new suitability regime is reflected in amendments to IDA Regulations
1300, 1800.5 and 1900.4 and new Policy No. 9 "Minimum Requirements
for Members Seeking Approval under Regulations 1300.1(e) for Suitability
Relief for Trades not Recommended by the Member".
The Commission approved the amendments and new Policy No. 9 on July 12,
2001.
August 10, 2001
Contact:
Barbara Shourounis
Director
(306) 787-5842
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