Definition
The IIROC Dealer Member Rules (DMR) were the rulebook governing investment dealers registered with IIROC before the merger with the MFDA on January 1, 2023 to form CIRO. At the time of the merger, the DMR was incorporated into the CIRO IDPC (Investment Dealer and Partially Consolidated) Rules. The core structure of the DMR was preserved: conduct and business rules covering KYC, suitability, supervision, conflicts of interest, account opening, margin, and financial compliance. Rule numbering changed: for example, legacy IIROC DMR Rule 1300 (suitability) maps broadly to CIRO IDPC Rule 3402. Pre-2023 study materials, CSA notices, and court decisions frequently reference the DMR; candidates should be able to map those references to the current CIRO IDPC equivalent. CIRO has been actively consolidating and renaming rules since 2023, so the CIRO rulebook continues to evolve from the DMR baseline.
Source
CIRO IDPC Rules transition documents; IIROC predecessor DMR archive (ciro.ca)