Page 2 - Client Focused Reforms News Today

Ontario Securities Commission’s Investor Advisory Panel Releases 2020 Annual Report Date 06/05/2021 The Investor Advisory Panel (the IAP) today released its 2020 Annual Report summarizing its activities, submissions, consultations, and meetings during the calendar year. In 2020, the IAP focused on the impact of the COVID-19 pandemic on retail investors, and the implications of several recommendations made by Ontario’s Capital Markets Modernization Taskforce in its interim and fina...

InvestorCOM Adds Competitive Intelligence Capability to Investment Product Management App Share Article TORONTO (PRWEB) April 15, 2021 InvestorCOM, the leading provider of regulatory compliance software and communications solutions for the financial services industry, today announced the availability of a new competitive assessment capability within ShelfMonitor, InvestorCOM’s product shelf management tool. ShelfAnalyzer™ empow...

NICE Actimize Introduces AI-Powered SURVEIL-X Suitability To Reduce Compliance Risk For Wealth Management, Insurance Firms - Selected By Leading Global Financial Services Organizations, SURVEIL-X Suitability Is Powered By New Risk Detection Date 06/04/2021 Financial services organizations that provide investment advice, and which sell life insurance, annuities and other wealth products, are finding that regulators are escalating how closely they monitor advisor behaviour. To help these fir...

Mark Kent, president and CEO of Portfolio Strategies Corp. in Calgary, says the firm will only need to make minor changes as a result of the client-focused reforms, mostly around advisor training and updating documentation. Photo by Todd Korol/Globe & Mail Todd Korol/The Globe and Mail This article is the third in an ongoing series on the client-focused reforms, which will place investors’ interests first in their dealings with financial advisors and dealer firms and have a consequential impa...

<p><span>The British Columbia Securities Commission (BCSC) is identifying more compliance deficiencies among investment adviser and dealer firms, with client statements and promotional statements becoming the most problematic areas, according to the latest </span><a target="_blank" href="https://www.bcsc.bc.ca/-/media/PWS/New-Resources/Industry/Registrant-Regulation/Compliance-Toolkit/2019_2020_CMR_-_Annual_Compliance_Report_Card.pdf">Complian...

Legal services for registrants Through the Client Focused Reforms, the Canadian Securities Administrators (CSA) expect registrants to better align their interests with the interests of their clients. The new rules and CSA expectations regarding conflicts of interest and related enhanced conflicts client disclosures will become effective on June 30, 2021, with the balance of the rule and policy changes becoming effective on December 31, 2021. With BLGs Vision of the Client Focused Reforms, we c...

Frictionless, relevant disclosure is critical to building trust with clients

The Investment Industry Regulatory Organization of Canada ( IIROC) has published for comment proposed amendments 1 to its rules in order to make IIROC requirements consistent with the Client Focused Reforms ( CFRs) adopted by the Canadian Securities Administrators ( CSA) by way of amendment to NI 31-103. The CSA CFRs focus on addressing material conflicts of interest in the best interest of the client, putting the clients interests first when making a suitability determination, and providing cl...

To print this article, all you need is to be registered or login on Mondaq.com. The Ontario Securities Commission (“OSC”) recently issued its 2021-2022 Draft Statement of Priorities for comment (the “Draft Statement”). The document sets out the priority initiatives that the OSC will pursue for the period from April 1, 2021 through March 31, 2022 in support of its four strategic goals, which are to: promote confidence in Ontarios capital markets; reduce regulator...