Regulatory

Coming soon: MFDA continuing education

If you’re an MFDA advisor, expect a published rule on continuing education (CE) requirements late this year or early 2018. Read: IIROC continuing education rules are here The self-regulatory organization (SRO) aims for CE requirements “to establish minimum standards for individuals to keep their industry knowledge current and maintain a high standard of professionalism.” Before […]

By Michelle Schriver |December 15, 2017

5 min read

Comply with OBSI, say regulators

CSA, IIROC and the MFDA have released a joint notice, Complying with requirements regarding the Ombudsman for Banking Services and Investments. The notice highlights concerns about some registered firms’ complaint handling systems and participation in OBSI’s services, and sets out potential regulatory responses. In the notice, the regulators say that, though OBSI’s compensation recommendations aren’t […]

By Staff |December 7, 2017

1 min read

SEC cyber unit files charges over Quebec PlexCoin securities

The SEC says in a release that it has obtained an emergency asset freeze to halt an initial coin offering fraud that raised up to US$15 million from thousands of investors since August. The offering falsely promised a 1,354% profit, says the SEC. The commission has filed charges against “a recidivist Quebec securities law violator,” […]

By Staff |December 4, 2017

2 min read

OBSI’s new website ready for client complaints

In 2016 investment complaints to the Ombudsman for Banking Services and Investments (OBSI) were up 17% from the previous year. Better online service might help clients with complaints feel less frustrated: OBSI has launched a new website, which includes a “simplified” complaint process for clients, says the ombudsman in a release. The overall complaint process […]

By Staff |November 15, 2017

1 min read