Tag: client focused reforms

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) will be in effect in the new year. In the U.S. regulation […]

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Wealth Firms Use InvestorCOM to Meet KYP Requirements for the Client Focused Reforms

Firms use InvestorCOM’s compliance platform to satisfy KYP requirements: assess and monitor product shelf for material change and compare and document reasonable product alternatives. Toronto, ON, November 23, 2021 – InvestorCOM, a leading regulatory software provider to the wealth management industry, today announced that several Canadian investment dealers, with close to $1 Trillion of assets […]

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CFR: Implementing KYP – Webinar Q&A

Recently, InvestorCOM hosted a webinar with “Client Focused Reforms: Implementing KYP” featuring Rebecca Cowdery and Michael Taylor from BLG, Richard Wylie from Assante Wealth Management, and Parham Nasseri and Dave Carr-Pries from InvestorCOM where they discussed approaches firms can take to meet their KYP obligation. There was tremendous interest in this topic and we ran […]

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Webinar: Client Focused Reforms – Implementing KYP

On-Demand Webinar With the CFR implementation deadline fast approaching, many firms are looking for practical strategies for meeting the remaining elements of the CFRs. Watch this 60-minute on-demand webinar to hear industry experts from Assante Wealth Management and BLG discuss approaches firms can take to meet their KYP obligation. The discussion will focus on: Practical […]

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Materiality Index: Monitor for Significant Change

The Client Focused Reforms and the introduction of the new KYP requirements place an explicit obligation on firms to reasonably assess, approve and monitor the securities (or products) made available to clients for significant change. Given the principles-based nature of the regulatory expectations, the ‘reasonable’ actions taken by each firm will depend on a number […]

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Client Focused Reforms: A Dialogue with Richard Roskies, AUM Law

Over the course of the Client Focused Reforms (CFR) journey, InvestorCOM has hosted a series of virtual forums for wealth management leaders to better understand the nuances of the regulation, openly discuss compliance challenges, and consider viable strategies for meeting the regulations. Anchored by these discussions, on February 2 2021, InvestorCOM hosted leading industry experts, […]

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Client Focused Reforms: the SRO Chapter

Last week, the MFDA and IIROC published their much-awaited versions of the Client Focused Reforms (CFRs) (MFDA’s publication – IIROC’s publication). These versions are aimed to amend the Self Regulatory Organization’s (SRO’s) rules to adhere to provincial regulators’ requirements. The combined efforts of the provincial regulators and the SROs are intended to result in a […]

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Fund Fees are Decreasing – How are You Keeping Track?

On March 26, 2020, the Investment Company Institute (ICI) announced that the average expense ratios of US domiciled equity, hybrid, and bond mutual funds—including both actively managed and index equity and bond mutual funds have declined substantially over a period of more than 20 years. The report titled, “Trends in the Expenses and Fees of […]

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COVID 19: Financial Services Industry’s Opportunity to Serve

The past several weeks has changed many aspects of our personal and professional lives. It would be an understatement that the pace of change, including the transition to work from home, taking care of children and elders, all while maintaining our own well-being, has required major adjustments for all. Amidst this period of change, the […]

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ShelfMonitor For Dealers – Now Available

After an extensive investigation and feedback period, the CSA (Client Securities Administrators) recently released the published rule amendments to implement Client Focused Reforms (CFR) across Canada. CFR is a series of investor protection reforms based on the fundamental concept that clients’ interests come first for dealers in their interactions with investors. The reforms provide obligations […]

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