BU477 Chapter Notes -Know Your Customer, Risk Aversion, Ion
Document Summary
Allowable activities by a non registered staff: advise that we sell mf"s, refer to sales rep, receive redemption requests to forward to a rep, distribute brochures and fund performance updates, give general characteristics of mf managed pool of assets etc, provide current account info, receive a completed order form to forward off. Chapter 5: ascertaining clients needs: must sign new account and changes before account is open, many funds have 90 day holding period, account opening done in person trades can be done over phone hotline, sin is not mandatory, but can get . 00 fine to withhold. (needed for all reg accounts, no risk = 100 capital preservation, moderate risk = 20 cap pres. Unacceptable sales practices (ni 81 102: say anything in conflict with the mf prospectus, presenting info that can distort the prospectus, over emphasizing tax savings, churning, guaranteeing repurchase or units at a set price, prospecting a client by phone, unless current client or requested (some provinces)
