The CSA and CIRO’s Phase 2 review offers a clearer picture of where wealth firms are falling short on KYC, KYP and suitability—and what regulators expect to see in practice.
This concise two-page briefing breaks down the key findings from Joint CSA/CIRO Staff Notice 31-368 and highlights approaches firms can use to strengthen compliance without adding unnecessary complexity.
What You’ll Learn
- Where firms experienced gaps across KYC, KYP and suitability
- What regulators expect firms to improve
- Examples of effective practices identified in the Staff Notice
- How centralized processes and technology can support more consistent execution
- How firms can turn stronger compliance processes into greater advisor capacity and better client outcomes
Move From Compliance Requirements to Repeatable Execution
The regulatory expectations are clear. The challenge is operationalizing them consistently across advisors, branches and product shelves.
See how firms can build a more scalable approach to KYC, KYP and suitability while reducing manual effort and strengthening the documentation behind every decision.
Get the CFR Phase 2 Sweep Briefing
Complete the form to access the two-page overview of key findings, effective practices and opportunities for more scalable compliance.