Regulatory Alerts2021-02-04
Draft Amendments to Policy Statement to Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligation
The regulator amends Policy Statement to Regulation 31-103 to impose stricter oversight requirements on registered individuals' outside business activities. Firms must establish robust policies to identify, report, and manage material conflicts of interest and risks arising from these activities, including mandatory pre-approval and ongoing supervision. The amendments also introduce specific regulations for individuals in a position of influence, such as clergy or healthcare providers, prohibiting them from trading with susceptible clients and requiring firms to report these roles to regulators.
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