Rules & Regulatory Update
April 13, 2011: In October 2010, the Canadian securities regulators laid out the initial requirements for providers of Mutual
Funds in Canada to publish a new point-of-sale document called “Fund Facts”. In this, Phase 1 of the initiative, there is no call to action for Dealers or Advisors.
This
regulatory update explains the rule change and how it will be implemented by Counsel.
June 17, 2010: The Manitoba government recently amended the Pension Benefits Act and Pension Benefits Regulations. A number of these changes will affect Manitoba Locked-in Retirement Accounts (LIRAs), Life Income Funds (LIFs), Locked-in Retirement Income Funds (LRIFs), and Prescribed Registered Retirement Income Funds (PRIFs).
Summary of Rule Changes and Relevant Application Forms
April 07, 2010: CPA ( Canadian Payment Association) has made changes to PAC ( Pre Authorized Chequing) effective 1st March, 2010. This change will affect paperwork when setting up a new PAC or amending an existing PAC. All requests received prior to 1st March, 2010 will be honored as per old guidelines.
Counsel Portfolio Services has made required changes to forms needed for this service, to reflect the terms & conditions based on the new CPA, H1 Rule. The application & the new stand alone form ( PAC/PAD Agreement form), both forms are available on W Connect & the Counsel website . Further details regarding rule H1 can be obtained @
www.cdnpay.ca
Note- IPC advisors can use the dealer form or the Counsel stand alone form when making amends to existing PAC.
Rule H1: Implementation & Revisions to Terms & Conditions for Pre-Authorized Debit Plans