Regulatory Alerts2020-03-05
Amendments to Policy Statement to Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian Securities Administrators amended Policy Statement to Regulation 31-103 to enhance protections for older and vulnerable clients by introducing Appendix G. This appendix provides detailed definitions for financial exploitation, mental capacity, and vulnerable clients, while outlining requirements for trusted contact persons and temporary holds on accounts. Registrants are guided on identifying warning signs, obtaining client consent, and following specific procedural steps to place and manage temporary holds when exploitation or diminished capacity is suspected.
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