Regulatory Alerts2020-12-30
Regulation to amend Regulation 81-105 respecting Mutual Fund Sales Practices
The Minister of Finance approved the Autorité des marchés financiers' Regulation to amend Regulation 81-105 respecting Mutual Fund Sales Practices. The amendments introduce a definition for suitability determination and prohibit dealers from soliciting or accepting trailing commissions when no suitability determination was required for the client. These changes aim to align trailing commission payments with the obligation to assess client suitability, with most provisions coming into force on June 1, 2022.
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