Client Focused Reforms (CFR)

Compliance Training.

Client Focused Reforms Training Series

A comprehensive advisor compliance training program that satisfies the new training requirements for licensed individuals under the Reforms to Enhance the Client-Registrant Relationship (Client Focused Reforms). We’re pleased to offer three versions of our Client Focused Reforms (CFR) training series. Each course aligns with the relevant rules of each self-regulatory organization (SRO). Select the one below that best suits your professional needs.

Courses offered in English and French. Happy learning!

French IIROC training.

French MFDA training.

French PM/EMD training.

Modern Training for Today’s Learner

Built as a series of four one-hour chapters, the video content and technology allows for a turn-key solution for firms to easily roll out the mandatory CFR training one chapter at a time, or all at once. For IIROC and MFDA Member firms, this program has simplified the entire registration process and provides comprehensive reporting to satisfy books and records obligations.

Registrants can stream the course on any device, even offline, with the Learnedly mobile app.

Upon completing this course, registrants will:

  • Receive 4.0 compliance continuing education (CE) credits

  • Know how to put the client’s interest first when making suitability determinations

  • Know how to identify existing and foreseeable material conflicts of interest between a registered individual and their client

  • Know how to address material conflicts of interest in the best interest of their client

Full Client Focused Reforms Training: $100.
Short and engaging videos organized into four parts:

  • Part I: Conflicts of Interest

  • Part II: Know Your Client (KYC), Know Your Product (KYP) and Suitability Determination (SD)

  • Part III: Referral Arrangements (RA), Relationship Disclosure Information (RDI) and Misleading Communications, Outside Activities (OAs) and Positions of Influence (PoI)

  • Part IV: Protection of Older and Vulnerable Clients

Sections available for individual course purchase:

Looking for Corporate Training?

Fantastic! Let’s work together and bring an accessible and seamless CFR learning experience to your organization. Email us at hello@learnedly.com and a team member will be in touch very shortly.

A Summary: Client Focused Reforms

In October 2019 The Canadian Securities Administrators (CSA), published Reforms to Enhance the Client-Registrant Relationship (Client Focused Reforms), which outlined the amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. The changes require advisors to better align their interests with those of their clients, ensuring that the interest of the client always comes first.

These amendments also require firms to provide mandatory Client Focused Reforms (CFR) training for their registered individuals and keep records of all training.

What Does It Mean For Financial Professionals?

The new rules require financial advisors to:

  • Conflicts of Interest (COI): addressing material conflicts of interest in the best interest of the client

  • Know Your Client (KYC): tailor decisions based on the client’s needs and circumstances and keep information current

  • Know Your Product (KYP): firms and advisors must perform product due diligence for all securities offered to clients

  • Suitability Determination (SD): Making recommendations that are in the best interest of the client

  • Relationship Disclosure Information (RDI): do more to clarify for clients what they should expect from their advisors

  • Outside Activities: restrict additional activities that may create potential conflicts of interest

  • Positions of Influence (PoIs): Limit or prohibit client relationships that may have been formed by an advisor in a position of influence over certain individuals

The first rules around conflicts of interest and enhanced client disclosures with respect to conflicts of interest came into effect on June 30, 2021. The remainder of the policy and rule changes came into effect on December 31, 2021.

Looking for company-wide training?

Say hello@learnedly.com and let us know how we can help!