Regulatory Alerts2020-01-09
Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Minister of Finance approved amendments to Regulation 31-103 to implement Client Focused Reforms for registered firms and individuals in Quebec. The changes introduce strict obligations for know-your-client and know-your-product assessments, suitability determinations, and the identification and disclosure of material conflicts of interest. Additionally, the regulation updates compliance system requirements, training mandates, and restrictions on borrowing from or lending to clients.
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