December 16, 2008


On October 17, 2008, the Investment Industry Regulatory Organization of Canada ("IIROC") published for comment a draft guidance note entitled "Best practices for product due diligence" (IIROC Notice 08-0149). IIROC was requesting comments on the relevant criteria in determining whether a product should be subject to a due diligence review, factors to be considered in conducting product due diligence and the internal policies and procedures necessary for an effective review. Comments were due 60 days following the date of the IIROC Notice. On December 16, 2008, a team of Fasken Martineau lawyers and students consisting of Geoff Clarke, Daniel Fuke, Patrick Dolan (student-at-law) and Laura Fetter (student-at-law) submitted a comment letter.

IIROC Notice 08-0149 is available by clicking here.