Client Focused Reforms
The Canadian Securities Regulators introduced amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (Rule) in 2019, following extensive public consultation. The Rule and its Companion Policy are known as the Client Focused Reforms (CFR). The CFRs are based on the concept that the client’s interests come first in a client-registrant relationship.
Industry implementation of the CFRs was completed on December 31, 2021.