Chapter 2 - Canada's Reg Environment

Question 1

Is CIPF and SRO?

Answer 1

No it is not - it is funded by IIROC

Question 2

What are 4 systems shared by the CSA

Answer 2

1. SEDAR
2. SEDI
3. CTO
4. NRD

Question 3

For Criminal Act/Offence Act - what is the burden of proof?

Answer 3

Crown must prove BEYOND A REASONABLE DOUBT

Question 4

For Regulatory Authority - what is the burden of proof?

Answer 4

Proof on Balance of Probabilities

Question 5

What is the difference between National Instruments and Multilateral Instruments

Answer 5

NI - apply to All Provinces

MI - apply to Some Provinces

Question 6

What organization regulates the affairs of a company?

Answer 6

CBCA - Canada Business Corporations Act

Question 7

What US Organization oversees US SOR’s?

Answer 7

The SEC - Securities & Exchange Commission oversees FINRA, NYSE, NASDAQ…

Question 8

What is the maximum Fine that can be imposed by FINTRAC for an AMP?

Answer 8

$500,000 - has legislative authority to issue and AMP: Administrative Monetary Penalty

Question 9

What is the difference between General Deterrence & Specific Deterrence?

Answer 9

GD = deterring others from doing the same thing
SP = deterring the offender from reoffending

Question 10

What are the two classifications for Criminal Offences?

Answer 10

Indictable Offence (Federal Only)
Summary Convictions (Federal / Provincial)

Question 11

Under Civil Action, what is the burden of proof requirement?

Answer 11

Party who commences a civil action must prove his case on a Balance of Probabilities

Question 12

What are the 2 duties that arise under contract law?

Answer 12

1. Dealer must carry out a client’s instructions?

2. Termination of the relationship with appropriate notice.

Question 13

What are the 3 obligations under DUTY of CARE

Answer 13

1. KYC
2. Suitability
3. Confidentiality