Tag: Delivery

Are you Ready for POS3?

Effective today, May 30, 2016, Point of Sale 3 regulation comes into effect.  This means that advisors and dealers that are selling a mutual fund must provide Fund Facts disclosure prior to booking a mutual fund trade.  This regulation, first announced in 2009 has had several phases including the introduction of the Fund Fact in […]

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Consumers Should Have the Unfettered Choice of Paper or Electronic Statements

A recent paper published by the National Consumer Law Centre titled Paper Statements: An Important Consumer Protection provides some important guidelines to financial institutions that are implementing e-migration strategies.  The publication, referencing US legal and compliance guidelines, urges the careful consideration of many consumer choice considerations and ultimately lands on a theme that we strongly support […]

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It’s Not Too Late to Comply

A February MFDA review of the industry’s readiness for POS3 and CRM2 provided mixed results – while some dealers are ahead of the curve, the review “found incidents of both outright non-compliance and examples of half-hearted compliance”. With POS3 only 90 days away and the last CRM2 reforms only 135 days away, the clock is […]

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New Record-Keeping Requirements Raise Compliance Concerns

The Ontario government quietly amended the Ontario Securities Act a few weeks ago, paving the way for even greater disclosure and compliance measures by dealers and their advisors. In fact, as Blakes highlights in their June 29, 2015 bulletin the new record-keeping obligation will place even more onus on all dealers, advisors and other market […]

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POS Stage 3 Pre-trade Delivery Coming Soon….

The Canadian investment community awaits the CSA’s final Stage 3 rules for National Instrument 81-101 which are due to be published in the next 4 weeks.  This will establish the specific guidelines with respect to pre-trade delivery of the Fund Facts document and with that, the CSA has recently launched an interactive sample of a […]

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E-Delivery: Paperless or Less Paper?

Rarely does a week pass without a new article or whitepaper arguing the virtues of moving from printed communications to electronic communications.  And most recently, we have heard a lot from lobby groups that are actually promoting printed communications over e-communications (check out www.twosidesna.org ).  The subject even made it onto CBC Marketplace’s Dumbest Charge […]

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Advisor showing TD Fund Facts Delivery

Marketing vs. Regulatory Disclosure

I recently attended a conference entitled “Does Disclosure Work?” hosted by the Capital Markets Institute and the Canadian Foundation for Advancement of Investor Rights (a.k.a. FAIR Canada) at the University of Toronto’s Rotman School of Management. The first question and answer between the moderator and panelists was: “What single thing would help improve disclosure to […]

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