Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Le coin des francophones -- Ignore unavailable to you. Want to Upgrade?

To: lapiastre who wrote (16226)	4/10/2000 11:17:00 AM
From: lapiastre	Read Replies (1) \| Respond to of 77509

Bonne nouvelle pour ceux qui transigent avec les courtiers … escompte Canadian Securities Administrators provides relief from suitability obligations VANCOUVER, April 10 /CNW/ - Securities regulators announced today that relief from suitability obligations will be granted on an application basis to dealers who only provide trade execution services for their clients. In order to continue to safeguard the interests of investors, the CSA will impose several conditions on dealers to whom this relief will be available, said Douglas Hyndman, Chair of the Canadian Securities Administrators (CSA), the umbrella organization for Canada's 13 provincial and territorial securities commissions. The conditions include: - the dealer must operate as a legal entity or business unit that limits activities so that no advice or recommendations will be given regarding the purchase or sale of any security; - the separate legal entity or business unit must, at a minimum, have separate letterhead, accounts, registered representatives, registered investment representatives, registered trading officers and account documentation; - the dealer must not compensate individuals on the basis of transactional values; and - the dealer must receive from the client a written informed acknowledgement that no advice or recommendation will be given by the dealer and that no determination of suitability will be made for any purchase or sale of a security through the legal entity or business unit. "Changes in technology have provided retail investors with a wealth of real-time information and the means to trade electronically," Mr. Hyndman said, "This relief from suitability obligations recognizes the changing needs of investors and the dealer community." The CSA will continue to work with the Investment Dealers Association to explore ways in which similar relief would be available to other categories of dealers while still safeguarding the interests of investors.