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CFR Compliance An Analysis of Significant Changes to the Mutual Fund and ETF Landscape sq

CFR Compliance: An Analysis of Significant Changes to the Mutual Fund and ETF Landscape

The Client Focused Reforms (CFRs) introduced a higher standard of conduct for wealth management firms and financial advisors, with the goal of putting “investors first.” The regulations explicitly outline a set of enhanced Know-Your-Product (KYP) standards, requiring firms to assess, approve and monitor the securities made available to clients. To help support InvestorCOM’s wealth management […]

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Reg BI Recent Cases: SEC and FINRA Perspectives

Reg BI Recent Cases: SEC and FINRA Perspectives

InvestorCOM spoke with David Porteous, Partner at Faegre Drinker and Mitchell Atkins, Principal at FirstMark Regulatory Solutions to discuss the SEC’s and FINRA’s perspectives on the recent Reg BI cases.   Parham Nasseri [PN]: With all the rhetoric we’ve seen in recent cases, specifically on the Reg BI front, what do you see as the […]

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Choosing the Right Compliance Software Can Impact More than Just Compliance

The Right Compliance Software Can Impact More than Just Compliance

The value of deploying the right compliance technology is clear: it will save your firm money, it will align with the rules and regulations it is supposed to support, and it will be highly configurable so you can put your firm’s stamp on it.  These are all incredibly valid points that contribute to the value […]

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Compliance

Demonstrating Compliance with the New KYP and Suitability Determination Requirements

In 2021, the Canadian Securities Administrators (CSA) introduced the Client Focused Reforms (CFRs) in two phases: first the implementation of the Conflicts of Interest rules, and the remainder came into effect on December 31, 2021.   The CFRs are holistic in nature and are based on the fundamental principle that clients’ interests must come first when […]

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Advisors Require Tech as Pre-trade Obligations Grow

Advisors Require Tech as Pre-trade Obligations Grow

Firms that deliver on digital documentation and disclosure will reduce audit risk The wealth industry has faced an unprecedented wave of new regulations over the last decade, and 2022 may be the most challenging regulatory year yet for firms. In Canada, the client-focused reforms (CFRs) have been in effect since the start of the new […]

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PTE 2020-02: Steps Firms Are Taking to Meet the PTE 2020-02 Requirements

InvestorCOM recently chatted with Rick Ohlrich, CCO at RFG Advisory to discuss practical steps to meet PTE 2020-02 requirements.   Parham Nasseri [PN]: Given that a specific requirement from PTEs FAQs requires an outright disclosure to the investor around why a rollover is in the investor’s best interest – what are some prudent steps you’ve […]

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PTE 2020-02: How to Get Ahead of the PTE’s Retrospective Review Process

InvestorCOM recently chatted with Tom Selman, founder of Scopus Financial Group for his insights on how to get ahead of the PTE 2020-02 annual retrospective review process.   Parham Nasseri [PN]: Tom, there’s been a notion that now there needs to be this retrospective review process. Just practically, or maybe even strategically, what does this […]

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Rollovers and Reasonably Available Alternatives: Insights from Industry Experts

InvestorCOM recently chatted with Tom Selman, Founder of Scopus Financial Group and Rob Dearman, CEO and Chief Innovation Officer at DCG Insight to discuss the history on rollover recommendations, the drivers behind the growth of the rollover market, and the why behind the regulatory requirement to evaluate reasonably available alternatives (RAA). Parham Nasseri [PN]: Tom, […]

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Best Interest Disclosure Requirements for Rollover Recommendations: A Summary

The U.S. Department of Labor’s (DOL) Prohibited Transaction Exemption 2020-02 (PTE 2020-02), Improving Investment Advice for Workers & Retirees has been in effect for more than a year. However, enforcement of the requirement to provide investors in writing of the specific reasons why a rollover recommendation is in their best interest has been deferred until […]

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