When securities regulators finalize proposed rule changes on reps’ personal financial dealings with clients, firms will have 180 days to unwind any existing arrangements that are offside under the new rules, according to a notice issued Tuesday by the Investment Industry Regulatory Organization of Canada (IIROC).

Regulators are continuing to mull over possible changes to its rules that restrict dealer employees from acting as an executor, power of attorney (POA), trustee, or having control over clients’ financial affairs, the IIROC notice says. The rule changes were proposed in 2014.

According to the notice, IIROC is continuing to: review comments received on the proposals; consider the impact of the proposals on existing trustee, executor and POA relationships; and discuss these issues with the Canadian Securities Administrators (CSA).

As a result, the regulatory has “not yet finalized” its position, the IIROC notice says.

“In light of this, and recognizing the practical challenges for clients and [dealers] associated with unwinding certain arrangements, we have revised the deadline for unwinding existing arrangements,” the IIROC notice says.