WHAT: SPECIAL PCMA WEBINAR SERIES: PROPOSED CHANGES TO NI 31-103WHEN: 24 July 2018, Tuesday, 02:30 p.m.
PROPOSED CHANGES TO
REFERRAL ARRANGEMENTS
SPECIAL PCMA WEBINAR
SERIES
CSA has published for comment, reforms to put clients’ interests first and indicate policy decision on embedded commissions. The PCMA invites your comments on these Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
URGENT! Click here for the templates that the PCMA have prepared for you to comment on various issues in the CSA’s proposed amendments so that we can incorporate them into the PCMA’s comment letter. Please follow the instructions contained on the first page and return your completed templates to the PCMA as soon as possible (and before August 31, 2018).
The Canadian Securities Administrators (CSA) published two notices concerning investor protection initiatives. The first requests public comment on detailed reforms (Client Focused Reforms) to obligations of registered firms and individuals (registrants). The second sets out the intended policy decision with respect to mutual fund embedded commissions. These initiatives aim to better align the interests of registrants and investors, improve investor outcomes, and raise the bar for registrant conduct.
The CSA, through the Proposed Amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, is proposing changes that would require registrants to:
- address conflicts of interest in the best interest of the client;
- put the client’s interests first when making a suitability determination; and
- provide clients with greater clarity on what they should expect from their registrants.