The Investment Dealers Association of Canada has entered an agreement with the Montreal Exchange to transfer the member regulation functions of the ME to the IDA.

In a bulletin released today, the IDA said the effective date of this transfer is January 1.

To implement the agreement, members of the ME, who were under the primary audit jurisdiction of the ME and were not members of the IDA, were invited to join the IDA by way of a streamlined application procedure.

Members of the IDA, who were also under the primary audit jurisdiction of the ME, were invited to transfer their audit jurisdiction to the IDA.

As a result, eight members of the ME have now become members of the IDA: BNP (Canada) Securities Inc., Brockhouse & Cooper Inc., Demers Conseil inc., Dlouhy Merchant Group Inc., Pollitt & Co. Inc., Dubeau Capital & Co. Ltd., Leduc & Assoc. Valeurs mobilieres inc. and Societe Generale Securities Inc.

Four members of the IDA have transferred their audit jurisdiction from the ME to the IDA: Fimat Canada Inc., Retirement Option Group Inc., Refco Futures (Canada) Ltd. and Desjardins Securities Inc.