The requirement for registrants (including both MFDA (dealing) and IIROC (registered) representatives and CSA advising and associate advising representatives) to understand each client’s situation is known across the securities industry as the Know Your Client (KYC) rule. This obligation is a paramount concern and should be the focus of the daily business of a representative. Until the representative knows a client’s particular situation, they cannot make suitable investment recommendations for that client.
Equally important in making a suitability determination is an understanding of the investment product being recommended – how it is constructed, its features, risks, and costs, and a general idea of how it is likely to perform in various market conditions. This companion obligation of the KYC rule, often referred to as the Know Your Product (KYP) obligation, is the subject of this 2.5 hour course.
This CE course is suitable for investment advisors, mutual fund representatives, portfolio managers, exempt market dealing representatives, wealth managers and others within the financial services industry who would like to learn more about responsible investment.
Individuals licensed to sell securities that are subject to Professional Development CE requirements.
The Know Your Product online mini-course course meets the CSA’s CFR training mandate as well as satisfying continued education compliance requirements for IIROC and other jurisdictions.