The Client Focused Reforms (CFR) came into force December 31, 2021, requiring all registered dealers and advisors to, among other obligations, always put the interests of clients ahead of their own in the client-registrant relationship. The introduction of the CFR required significant amendments to key sections of NI 31-103 including new KYC requirements, introducing enhanced KYP obligations and expanding Suitability by requiring an advisor to put its client’s interests first when making a suitability determination. As a result of these changes dealers and advisors completed an extensive review of their business processes and introduced new policies and procedures to ensure compliance with the new regulations. This session discusses the suitability obligations required of advisors and how these new obligations have impacted how dealers and advisors engage with their clients to provide a suitability determination.
This session covers:
- KYC
- KYP
- Financial Circumstances (Liquidity and Assets outside the firm)
- Risk Profile
- Concentration
- Householding for Suitability
This session is eligible for 1 Compliance credit from IIROC accreditations.
Speakers
Julie Gallagher
Senior VP and Chief Compliance Officer
iA Private Wealth
Anthony Giglio
VP – Investment Management Research & Product Shelf Management
TD Wealth
Susan Silma
Head – Risk and Regulatory Business Practices
Sun Life Distributors
