Regulatory Alerts2021-02-04
Draft Regulation to amend Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The regulator amends Regulation 31-103 to introduce section 13.4.3, which restricts registered individuals holding positions of influence from trading or recommending securities to susceptible clients. The definition of position of influence encompasses professionals such as religious leaders, medical doctors, lawyers, and educators who are reasonably perceived to have influence over others. Registered firms and individuals are prohibited from conducting these transactions for the influenced persons or their immediate family members to prevent conflicts of interest.
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