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Citing the disruption caused by the Covid-19 outbreak, the Investment Industry Regulatory Organization of Canada (IIROC) is pushing back the implementation of changes to certain debt reporting requirements.

IIROC has revised the deadline for implementing changes that will, among other things, shorten the reporting deadline from T+1 to T for retail and institutional debt trades.

The changes, due to take effect on April 27, have now been pushed to July 27.

“In view of the current Covid-19 pandemic and to reduce the burden on our dealers as they navigate through this rapidly evolving situation, we are further delaying the implementation of amendments related to reportable retail and institutional debt transactions,” the self-regulatory organization said in a notice.

The requirements were originally supposed to take effect in October 2019 but were delayed to April to accommodate industry concerns about meeting that deadline.