(May 19, 2005) Are you taking notes? You need to be if you want to fend off lawsuits from clients looking to claim you sold products that didn’t suit their circumstances, says Harold Geller, a partner at Milton, Geller in Ottawa. “Professionals are easy to sue,” he said at the conference. “How can you know […]
(May 17, 2005) Sorry, but you have to eat your greens. After years of debate, the National Association of Securities Dealers (NASD) ended a policy whereby people who were considered securities industry veterans were exempt from continuing education requirements. NASD nixed all exemptions from the Regulatory Element component of its Continuing Education requirements last month. […]
(March 28, 2005) Firms have just over a year to clean up information on their registered personnel that appears in the National Registration Database (NRD). When NRD was under development, archived information on registrants was flowed out of legacy systems to create the basic data files. But some of the information was out of date […]
(March 2005) Sure there are software packages that will help you develop letters to clients. But many top advisors eschew those programs in favour of a more personal approach. They say written client communications are far too important to risk having them resemble form letters. Here are some tips on how to achieve that personal […]
(March 16, 2005) Securities regulators in Canada keep a close eye on what their colleagues in the United States do to monitor and guide compliance at advisory and brokerage firms. And advisors here need to be aware of changes in rules that affect their southern trading partners. Here’s the latest regulatory update from down south. […]
(March 11, 2005) Registration professionals at securities firms must go back and input data for all their Quebec registered personnel, now that the province has reworked its privacy laws to allow use of the National Registration Database (NRD). Data on registered representatives in all other provinces were inputted in 2003, according to Olu Muili, a […]
(March 10, 2005) The National Registration System (NRS) — which goes live April 4 — will make it easier for securities firms to register representatives in more than one province. At least it will once compliance and registration staffers get used to the system. Kenneth Parker, capital markets director for the Alberta Securities Commission, says […]
(February 23, 2005) The foreign content limit elimination left many industry association representatives with the same question: What’s going to happen to all those clone funds that were created to get around the foreign content restrictions? "I don’t know what the fund companies are going to do with all those clone funds now that they’re […]
(February 18, 2005) It’s an old saying that has a ring of truth, “What happens there, will eventually happen here.” Let’s face it, securities regulators in Canada keep a close eye on their colleagues in the United States to see what measures they’re taking to monitor and guide compliance activities at advisory and brokerage firms. […]
(February 4, 2005) Want some clues about what direction Canada’s regulators might take once they process comments on their soft-dollar concept paper? Look south, says TD Asset Management compliance manager Michael Valihora, because the trend towards regulatory harmonization means recent changes in the U.S. will influence the course taken by Canada. “It’s not an absolute […]