Project Details:
The Client Focused Reforms (CFRs) were introduced in 2021 to enhance investor protection by helping Dealer Members and Approved Persons gain a better understanding of their clients and the investment products they offer, make recommendations that are suitable for each client when suitability obligations apply, and address all conflicts of interest in the best interests of clients.
The CFR framework promotes a more consistent standard of care across the Canadian investment industry while providing dealers with flexibility to design compliance frameworks that fit their business models.
CIRO is publishing a series of three targeted compliance bulletins to assist Dealer Members and Approved Persons with certain aspects of the CFRs. The bulletins respond to common deficiencies and areas of uncertainty identified through CIRO’s compliance examinations and the CSA-CIRO Joint Report on the Phase 2 CFR Sweep.