Fund dealers advised to review their existing arrangements
Regulator spells out its expectations for the due diligence that firms must carry out before outsourcing any activity
Client call centres will remain in Canada
Government promises reform
Draft guidance indicates that dealers cannot outsource the account opening process, assessing suitability, or handling client complaints
IIROC will be issuing new guidance in October addressing outsourcing arrangements
FasTrac aims to capitalize on increased regulatory scrutiny and a push for faster processing
The International Organization of Securities Commissions’ Technical Committee has published a final report setting out principles designed to guide exchanges, and their regulators, when considering outsourcing arrangements.The principles set out the factors that market operators should consider when deciding whether, and to whom, to outsource certain functions; and they are designed to assist market authorities […]
Report that sets principles is sent out for public comment; deadline is May 20
Outsourcing and offshoring are seen to be crucial in keeping up with global competition