Legal services for registrants
Through the Client Focused Reforms, the Canadian Securities Administrators (CSA) expect registrants to better align their interests with the interests of their clients. The new rules and CSA expectations regarding conflicts of interest and related enhanced conflicts client disclosures will become effective on June 30, 2021, with the balance of the rule and policy changes becoming effective on December 31, 2021.
With BLG’s Vision of the Client Focused Reforms, we can provide you with the full range of legal and advisory services that you may need as you implement the Client Focused Reforms. Our tailored services related to conflicts of interest, client disclosure, and KYC and client onboarding and training programs are described in our updated PDF booklet that you can download below.
- BLG’s Conflicts Compliance Services will enable registrants to develop a compliance framework for identifying and managing material conflicts in the best interests of their clients and disclosing them as required.
- BLG’s Client Disclosure, KYC and On-Boarding Compliance Services will enable registrants to develop an approach to comply with the disclosure requirements and KYC expectations, in ways that are integrated with the registrant’s on-boarding packages for new clients, its on-going interactions with clients and its reporting packages for existing clients.
- BLG’s Training Programs Compliance Services will enable registrants to develop a training program that is scaled to a registrant’s business model, size and complexity to ensure that registered individuals, executive and other personnel understand their roles and responsibilities under the Client Focused Reforms and related securities laws.
There are a number of resources available to help you understand the requirements and regulatory expectations and these are described in our booklet, along with our plans for providing continuing updates to our clients and friends on the significant topics of the day.
Below is a list of resources that may be helpful to you in understanding the lengthy journey to the Client Focused Reforms.
- Now the Work Begins – “Client Focused” Registrant Reform Rules Published by the Canadian Securities Regulators – October 2019
- Client-focused registrant reform deadlines postponed due to COVID-19 – April 2020
- Client Focused Reforms – Frequently Asked Questions – Updated December 18, 2020 (PDF)
- IIROC Notice 20-0238 Client Focused Reforms – Proposed Rule Amendments for Public Comment – November 19, 2020 (PDF)
- IIROC Notice 20-0239 Client Focused Reforms – Housekeeping Rule Changes – November 19, 2020 (PDF)
- MFDA Bulletin #0843-P Client Focused Reforms (CFR) Amendments to NI 31-103 – Publication of Conforming Changes to MFDA Regulatory Instruments – November 19, 2020
Our BLG Registration Rules Book, which incorporates the most commonly used national and multilateral instruments and policies affecting registered firms and individuals, has been updated to include the changes made by the Client Focused Reforms.
We would be pleased to discuss how we can assist you in understanding the Client Focused Reforms and their impact on your firm and its representatives. Please contact your lawyer in BLG’s Investment Management Group or any of the key contacts below.