The Investment Industry Regulatory Organization of Canada (IIROC) is re-publishing rules requiring firms to disclose their membership in the self-regulatory organization to clients.

The proposed rule, which first went out for comment back in 2011, has now been published for a second public comment following a couple of changes to the first version.

The rule aims to promote public awareness of IIROC’s regulatory oversight of the firms and advisors that it supervises, in order to help clients assess the regulatory status of firms and advisors.

IIROC received six comments on the first version of the proposed rule, along with comments from staff of the Canadian Securities Administrators (CSA). As a result, it has made a couple of changes to the proposals, which require a second comment period. Those changes include dropping the requirement that the IIROC logo be included on client account statements and trade confirmations. Additionally, a proposed new rule requires that firms comply with the Canadian Investor Protection Fund’s (CIPF) disclosure requirements too.

As these revisions constitute material changes, the proposals are being re-published for a further comment period of 60 days, which ends on Jan. 12, 2015.