The Canadian Securities Administrators (CSA) issued orders Thursday that confirm that investment dealers will have until March 26, 2014 to comply with new relationship disclosure requirements for their existing clients.

Back in 2011, the CSA issued orders that exempted firms that belong to the Investment Industry Regulatory Organization of Canada (IIROC) from the CSA’s new relationship disclosure requirements under the first phase of the Client Relationship Model (CRM) reforms. Those exemptions were set to expire on December 31 of this year, in anticipation of the IIROC version of these rules being fully implemented at that point.

However, IIROC’s reforms didn’t begin implementation until March 26, 2012. And, at that point, IIROC envisioned giving firms a two-year transition period to comply with new requirements for existing clients (and one year for new clients). So now, the CSA have issued their own orders extending the exemption from the CSA rules, pending the IIROC rules coming into full effect in March 2014.