Reform of Regulation 31-103

Did you know that since December 31, a gradual reform of Regulation 31-103 on Registration Requirements, Exemptions and Ongoing Registrant Obligations has started, to be completed by 2021?

Here are some points to keep in mind regarding this reform:

– The addition of the fundamental requirement to give priority to the interests of the client

– The addition of restrictions relating to conflicts of interest

– The addition of a minimum frequency of revision for a client file

– The addition of restrictions on the evaluation of products for a company

– The addition of the need to deeply understand the titles

– The addition of the need to provide an explanation on the impact of fees

– The ban on representatives from using honorary titles

Are you ready for the reform?

Article published by Finance & Investissement (Oct. 2019 – French Only):