Not familiar with the proposed changes? Time to check them out.
In an industry where the definition of “financial advice” is becoming blurry, regulatory disclosure does not solve all issues, says Andrew Kriegler, president of IIROC. Regulators need to adapt faster to an environment where clients want more control over their investments and may perceive online products and services as offering them financial advice, Kriegler told […]
The Ontario Securities Commission (OSC) has published a staff notice on behavioural insights (BI). The report outlines how global regulators use knowledge about human behaviour to address issues in capital markets and improve outcomes for investors and market participants. Read: Less efficient markets call for active management, says CFA In the report, ample research is […]
TD Bank says it is reviewing concerns about its sales practices in light of reports that some employees allegedly broke the law in order to meet sales targets and keep their jobs. Read: Banks under FCAC microscope after allegations of upselling CEO Bharat Masrani says the bank received “a few hundred complaints” last year regarding […]
01 CSA staff notice 51-347: Disclosure of cybersecurity risks and incidents As business dependence on technology rises, so does business risk. A 2016 Ponemon Institute study found the average cost of a data breach is US$4 million. Businesses “are being encouraged, guided and compelled, in some instances, to try to manage those risks in meaningful […]
The SEC’s enforcement section is readying for big spending cuts under President Donald Trump, Bloomberg reports. The department responsible for investigating and enforcing federal securities law has already been told to cease non-essential travel, freeze hiring and stop using external contract assistance for cases, Bloomberg reports, citing unnamed sources. Read: Will Trump’s deregulation really matter? […]
Christopher Singer has been fined more than $60,000 over failure to use due diligence and to ensure an investment was suitable for one client. Singer has been registered in the mutual fund industry since 2001 and as a dealing representative with FundEX investments since 2004, says MFDA in a reasons and decisions document that details […]
Aequitas NEO Exchange has formally requested that the CSA address Canada’s market data issues.
The British Columbia Securities Commission (BCSC) has permanently banned two people from B.C.’s capital markets for illegal distributions and multiple acts of fraud: Siu Mui “Debbie” Wong and Siu Kon “Bonnie” Soo. Wong and Soo are sisters and residents of B.C. In the same decision, the panel also ordered permanent bans against two joint venture […]
The CSA has launched an initiative that supports businesses seeking to offer innovative products, services and applications.