There are various reasons why advisors take risks and get into trouble with regulators; here are some key measures you could take to protect yourself
The Quebec regulator intends to publish a governance and compliance guide for firms in early 2018
The regulator will begin sending out questionnaires to some advisors who are deemed to be higher risk to determine if they need a more in-depth compliance review
An OSC review in 2016 found significant deficiencies with the firm’s compliance systems
Brian Connell-Tombs taps into more than 20 years of experience with Canada’s regulatory agencies and industry oversight groups
Examine every instruction from a client or power of attorney and take the appropriate steps if something doesn’t seem right
The provincial regulator is likely to provide more guidance on mutual fund sales practice rule and seniors
CSA oversight review says SRO failed to adequately resolve issues raised in 2015
A reputation takes a lifetime to develop and a split second to lose
Shortcomings in client statements, followed by KYC, conflicts of interest and advertising were the top compliance issues for dealers