Regulatory Alerts2021-12-16
Amendments to Policy Statement to Regulation 31-103 on Registration Requirements and Outside Activity Reporting
The regulator amends Policy Statement to Regulation 31-103 to modernize registration information requirements and clarify obligations regarding outside business activities. Registered firms must implement robust policies to identify, approve, and monitor individuals' outside activities to manage material conflicts of interest and ensure adequate client service. The amendments introduce specific definitions and reporting requirements for individuals in a position of influence, such as religious leaders and primary care physicians, to prevent exploitation of susceptible clients.
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