(September 14 – 15:00 ET) – E*TRADE Canada says that it has obtained relief from the suitability rule from the provincial securities regulatory authorities and the Toronto Stock Exchange, effective immediately.

“The lifting of the suitability rule for discount brokers by securities regulators is the most significant development to date in terms of leveling the playing field for investors in Canada,” said Colleen Moorehead, CEO of E*TRADE Canada.”The change to the suitability rule means that our customers will now be able to fully utilize our professional VERSUS trading technology which means for them institutional quality trading,” she added.

The new changes for E*TRADE Canada customers come into effect September 21. E*TRADE Canada says it will provide customers with an information package on the change. Customers must consent to the Suitability Exempt Service and the Exchange Agreement to obtain the benefits of the service.
-IE Staff