Monthly Archives: July 2018

A Preliminary Assessment of the CSA Reforms to the Client-Advisor Relationship (IIAC Blog)

A Preliminary Assessment of the CSA Reforms to the Client-Advisor Relationship (IIAC Blog)

On June 21, the Canadian Securities Administrators (CSA) released its long-awaited proposed reforms related to the client-registrant relationship. The CSA has done a commendable job in reaching consensus on a package of harmonized rules and guidelines to achieve best interest/client-first conduct between registrants and their clients, and in promoting a regulatory level playing field across all securities registrants.

The proposed rules leverage the existing SRO rules framework and add additional requirements in core aspects of the retail business, including Know Your Client, Suitability, Know Your Product, and conflicts of interest. Developing clearly … Continue reading

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Dealer Member-Portfolio Manager Service Arrangements Template (IIAC Blog)

Dealer Member-Portfolio Manager Service Arrangements Template (IIAC Blog)

The IIAC is pleased to make available to member firms a standardized template agreement to be used voluntarily by executing dealers and portfolio managers when entering into service arrangements. Developed by the IIAC and the Portfolio Management Association of Canada (PMAC), the template agreement sets out the respective obligations of the Portfolio Manager and the IIROC Dealer in providing applicable services to their mutual clients, as well as their respective obligations to each other.

The template agreement benefits member firms by streamlining and harmonizing the various agreements in use by IIROC Dealers and Portfolio Managers to create an industry standard. … Continue reading

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