Regulatory Alerts2021-12-23
Amendments to Policy Statement to Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian Securities Administrators issued amendments to Policy Statement 31-103 to enhance the protection of older and vulnerable clients by providing detailed guidance on financial exploitation and mental capacity. The document introduces new definitions and interpretive guidance for trusted contact persons and temporary holds, outlining specific warning signs and procedural requirements for registrants to identify and respond to potential abuse. It mandates that registered firms implement written policies and procedures to manage these risks while ensuring compliance with ongoing registrant obligations and privacy laws.
Share