What must a client receive after the execution of a trade according to IIROC rules?

What must a client receive after the execution of a trade according to IIROC rules?

• A. A summary of the company’s stock performance
• B. Confirmation containing transaction specifics
• C. A personal thank you note from the dealer
• D. A monthly financial report

Answer: (B)

After the execution of a trade, the client must receive a confirmation containing transaction specifics. This confirmation is a crucial document that outlines the details of the trade that has been executed on their behalf. It typically includes information such as the security traded, the number of shares or units involved, the execution price, transaction costs, and the date of the transaction.

This requirement ensures transparency and provides the client with a clear record of their investment activities. It fosters trust between the client and the dealer by ensuring clients have access to comprehensive data regarding their trades, which they may need for their own accounting and investment tracking purposes.

In contrast, while a summary of the company's stock performance or a monthly financial report may be useful information for a client, they are not obligatory documents that must be provided immediately after a trade is executed. A personal thank you note, while courteous, is not a requirement of the regulatory framework governing trading practices.