Regulatory Alerts2020-03-05
Notice of Consultation: Draft Amendments to Enhance Protection of Older and Vulnerable Clients
The Canadian Securities Administrators propose amendments to Regulation 31-103 to protect older and vulnerable clients from financial exploitation and diminished mental capacity. The draft rules require registrants to obtain a trusted contact person and permit temporary holds on transactions when there is a reasonable belief of exploitation or incapacity. These measures aim to balance investor autonomy with enhanced safeguards against abuse.
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