There are many frauds and scams as fraudsters use this time of economic uncertainty to their advantage. But how do you spot a scam? And how do you know if an investment opportunity is legitimate?

A pump-and-dump scam is a type of investment fraud. Fraudsters artificially increase the price of a stock they own by encouraging other investors to buy it. Fraudsters then sell their shares; the price falls and investors lose money.

Ellen explains how to assess client knowledge and support an advisor’s recommendations so that when they are faced with a client complaint and their recommendations are called into question by their firm, regulator, and OBSI or a judge, they will be armed with the evidence they need.

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The Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) have released for public consultation a discussion paper on upfront compensation paid for the sale and servicing of segregated funds and individual variable insurance contracts (IVICs)

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Introducing SEDAR+, the new web-based application for regulatory filings and issuer information in Canada. This short video provides an overview of the phased rollout of the new system, which provides an improved experience for all users, with new functionality and features.

“Best Kept Secret about KYC” By Ellen Bessner BABIN BESSNER SPRY LLP

How important is the client’s investment knowledge/sophistication when determining suitability? Very important – Ellen explains that this criterion can impact both a judge’s and regulator’s decision on suitability because they are seeking to determine whether the investment risk was accepted by the client. Ellen also provides guidance as to how an advisor can protect themselves in their assessment and evidence thereof.

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2022 MFDA Compliance Credit – Available until: December 1, 2023

CE Credits: 1 MFDA Compliance Credit
Language: English and French.

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“Big Fat Questions to Get Clients Talking” By Ellen Bessner BABIN BESSNER SPRY LLP

While we understand that regulators require advisors to collect sufficient detail about each client to enable them to exercise their professional judgment to meet their suitability obligations, how is this achieved without infringing on client’s privacy? Ellen provides guidance as to how an advisor can balance their KYC collection obligations with clients’ desire for, and right to privacy.

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Learn about who can be your Trusted Contact Person and why having one can provide an extra layer of protection for your financial accounts. Naming a Trusted Contact Person can be particularly helpful for seniors and vulnerable investors.

A compilation of the most commonly used national and multilateral instruments and policies affecting registered financial services firms and individuals. Updated to include amendments to National Instruments 31-103 and 33-109 and their Companion Policies that came into force in 2022.

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