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The final phases of amended rules for using client identifiers came into effect this week, the Investment Industry Regulatory Organization of Canada (IIROC) said in a release on Wednesday.

The amendments require client identifiers or designations on orders sent to markets. The identifiers are either account numbers for most retail clients, or legal entity identifiers for institutional clients.

The requirements have been in effect for Canadian corporate and government debt securities since October 2019.

“The expansion of mandatory client identifiers to Canada’s equity as well as debt markets now provides for a far more comprehensive and timely view of market activity, enhancing our capability to perform both market monitoring and investigations,” said IIROC’s president and CEO, Andrew Kriegler, in the release.

Other global jurisdictions also require client identifiers to improve risk management, surveillance and investigations, the release said.

The amendments follow extensive industry consultation including two public comment periods.