Advisors must inform their clients about the risks of borrowing
New guidance reminds advisors about their suitability obligations
Unsuitable investments, undisclosed personal dealings lead to $40,000 fine
Separate hearing to determine penalty
BCSC panel rules out suspension for Victoria broker Carolann Steinhoff
The regulator’s goal is to enhance overall compliance at firms that don’t belong to a self-regulatory organization
Concerns about suitability top the list
Exempt market securities misrepresented as a prudent investment
In a recent review, most exempt market dealers and portfolio managers were issued deficiency reports
The OSC's proposed research is in the planning stage the goal will be to assess the suitability of advice given to clients