Regulatory Alerts2022-01-05
Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Quebec Securities Commission issued Regulation 31-103 to establish the registration categories, competency requirements, and ongoing obligations for individuals and firms operating in the securities industry. The regulation defines key terms such as eligible and authorized clients, outlines exemptions for mobile clients, and mandates specific professional examinations and compliance roles for registrants. It further details the fiduciary duties, record-keeping standards, and conflict of interest protocols that registered entities must adhere to maintain their authorization.
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