🔥 Daily ChallengeCIREOverview of Canadian securities regulatory frameworkMedium
Under the transitional provisions of Rule 1105, what happens to a disciplinary proceeding that was initiated by IIROC prior to January 1, 2023, but was not completed by that date?
4 attempts · 25% correct
The proceeding is automatically stayed and must be restarted under the new IDPC Rules.
The proceeding continues under the Corporation's authority as if it had been started by the Corporation.Correct
The proceeding must be settled immediately through a mandatory transitional mediation process.
The proceeding is dismissed, as CIRO does not have jurisdiction over IIROC's legacy matters.
Why
Correct. Rule 1105(2) ensures that any investigation or proceeding commenced by a predecessor SRO continues under the new Corporation (CIRO).
