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ARTICLE · 02 JUNE 2016

IIROC Gives Guidance On Seniors' Issues

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Yesterday, the Investment Industry Regulatory Organization of Canada released a notice providing guidance to Dealer Members on the ever-growing concerns surrounding aging investors.

CanadaFinance and Banking
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
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Yesterday, the Investment Industry Regulatory Organization of Canada released a notice providing guidance to Dealer Members on the ever-growing concerns surrounding aging investors. IIROC has outlined the following best practices:

  1. Be proactive about Powers of Attorney– ask senior clients about the existence of any POAs, and be sure to obtain copies and supporting documents; always reconcile changes with the KnowYour Client document.
  2. Enhance your communications – be meticulous in obtaining client information, and do it often while always using plain language. Talk to your senior clients about POAs and emergency contacts, and be sure to accommodate for those with disabilities.

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