INTERNAL SYSTEMS AND CONTROLS FINDINGS 4.1  Client Due Diligence (“CDD”) The Commission noted a number of instances where Registered Persons were unable to fully demonstrate compliance with Sections 3 and 4 of the AML Handbook. All Registered Persons are required to demonstrate sufficient knowledge of their clients by way of collecting and maintaining appropriate CDD. […]

CORPORATE GOVERNANCE FINDINGS 3.1  Oversight of Investment Advice Cycle and Product Approval Process The Commission would expect a Registered Person to evidence appropriate oversight of the investment services it provides, by demonstrating that all relevant investment discussions and decisions are formally recorded and escalated to the Board of Directors (the “Board”). Specifically, a Registered Person […]

The JFSC investment business supervision have issued their annual findings from their 2013 on-site examinations The topics covered are: CONDUCT OF BUSINESS FINDINGS CORPORATE GOVERNANCE FINDINGS INTERNAL SYSTEMS AND CONTROLS FINDINGS These matters are shown below using the same numbering as the JFSC report CONDUCT OF BUSINESS FINDINGS 2.1  Suitability of Investments The risk of […]