Regulatory Alerts2021-09-23
Added · Updated
Joint CSA/IIROC Staff Notice 21-330: Guidance for Crypto-Trading Platforms on Advertising, Marketing and Social Media Use
The Canadian Securities Administrators and IIROC issued joint guidance to address advertising and marketing activities by crypto-trading platforms that may breach securities legislation or raise investor protection concerns. The notice prohibits false or misleading statements, warns against gambling-style promotions that encourage excessive trading, and mandates robust compliance and supervisory systems for social media use. It further clarifies that such marketing activities can trigger suitability obligations and requires platforms to maintain accurate records and substantiate all promotional claims.
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