Regulatory Alerts2021-07-15
CSA Notice of Publication: Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligation - Enhancing Protection of Older and Vulnerable Clients
The Canadian Securities Administrators are adopting amendments to Regulation 31-103 to enhance protection for older and vulnerable clients by requiring registrants to obtain trusted contact person information and clarifying the conditions for placing temporary holds on client accounts. These measures aim to provide registrants with specific tools and guidance to address financial exploitation and diminished mental capacity while maintaining client autonomy. The Amendments are scheduled to come into force on December 31, 2021, aligning with the implementation of the Client Focused Reforms.
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