1. Meeting the standards
Dealers, advisers and investment fund managers must demonstrate fitness for registration at the time they apply for registration, and they must continue to do so throughout the period that they are registered.
For a firm, fitness for registration is assessed in terms of the firm’s ability to carry out its obligations under securities legislation, including the maintenance of:
- adequate working capital and insurance, books and records
- robust compliance systems
- procedures for dealing with clients, such as at account opening and in ongoing reporting.
GETSMARTERABOUTMONEY.CA – Special to The Globe and Mail – February 10, 2014.
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