The Investment Industry Regulatory Organization of Canada (IIROC) is working on new guidance for dealing with senior investors, among a slew of other policy priorities.
IIROC published the latest edition of its policy priorities report, which outlines the long list of regulatory initiatives that are underway, and the intended timelines for those efforts.
The report highlights initiatives that are imminent, such as forthcoming guidance on the supervision and suitability requirements when recommending a leveraged investment, which is slated for publication in January.
It also spells out new initiatives that are in development, such as proposed guidance on compliance, supervision and other practices when dealing with senior investors. A draft is slated to be published for comment in June.
Guidance on complying with the first phase of Client Relationship Model (CRM) reforms, which deal with relationship disclosure, know-your-client (KYC), and suitability assessment obligations, is also slated for June.
The final implementation of the initial CRM reforms is slated for March; and the requirements to be introduced in the second phase dealing with cost disclosure and performance reporting, known as CRM2, are currently out for comment. New guidance on the use of business titles and financial designations is also slated for March.
In July, IIROC plans to re-publish proposed guidance on compensation structures for retail investment accounts, which would set out issues that dealers and reps should consider when designing, recommending or supervising compensation arrangements for retail clients.