The Investment Industry Regulatory Organization of Canada (IIROC) has pushed back the deadline for unwinding certain trustee, executor, and power of attorney arrangements under rules designed to limit personal financial dealings with clients.

IIROC issued a notice Wednesday indicating that it is extending the deadline for exiting these sorts of arrangements from June 13 to Dec. 13, 2015. Back in June 2013, IIROC adopted a new rule to limit personal financial dealings with clients. That rule largely came into effect into effect in December 2013, although firms had until June 2015 to unwind existing arrangements that are captured by the rule.

Since then, IIROC has proposed amendments to the rule that would narrow the scope of the prohibition on fulfilling these roles, and provide an exemption that would allow reps to act an a trustee or executor for unrelated people, subject to certain conditions.

The deadline extension is designed to allow for the “proper consideration” of the proposed amendments, it says.

“This extension is necessary in order to ensure that existing control and authority arrangements are not unnecessarily unwound in the event the proposed amendments are adopted,” it says.