•  

  Improve Your Financial Knowledge - Part 12

  1-Jan-2023

  38. Investor Protection Funds

  Firms registered in the capital markets must maintain a strong financial position, which is monitored by the securities regulators and SROs, the same for the members of the MFDA and IIROC.

   

  If a firm fails, investors of the investor protection funds are covered for any losses (up to maximum coverage levels) as a result of the insolvency:

  *** Investor Protection Fund (MFDA IPC): For MFDA Members

  *** Canadian Investor Protection Fund (CIPF): For IIROC Members

   

  The dispute resolution services from OBSI are available if:

  *** After 90 days from the complaint, the dealer has not provided a substantive response and the client notifies OBSI that they wish to have the complaint considered by OBSI.

  *** Within 180 days of the client's receipt of the substantive response and the client notifies OBSI that they wish to have the complaint considered by OBSI.

   

  The dispute resolution services from OBSI:

  *** Clients can only access the dispute resolution services of OBSI, where their claim is no greater than $350,000.00.

  *** If OBSI decides in favour of the client, it has the authority to recommend that the firm compensate the investor up to a limit of $350,000.

  Improve Your Financial Knowledge - Part 13

  39. Anti-Money Laundering/Terrorist Financing (AMLTF) requirements are codified in the following instruments:

  *** Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)

  *** Proceeds of Crime (Money Laundering) and Terrorist Financing (PCMLTF) Regulations

  *** FINTRAC Guidelines

   

   

  You can book your consultation at 

  Https://ABCFinancialAdvisor.com/Book-a-Meeting

  Or call us at 647-830-8080

   

  #ABCFinancialAdvisor #Canada #Toronto #Vancouver #FinancialServices #FinancialAdvisor #FinancialAdviser #FinancialAdvice #FinancialPlanning #Finance #Business #RetirementPlanning #InvestmentManagement #Investment #Investing #Investor #Invest #Money #MoneyManagement #MutualFunds #RRSP #RESP #RDSP #TFSA #InsuranceManagement #InsurancePlanning #LifeInsurance #Insurance #InsuranceSpecialist #EstatePlanning #Estate #Financial #WealthManagement

Comments

• (no comments)