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13 Cards in this Set
- Front
- Back
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What is the main purpose of regulation? |
To foster an environment of fairness and protect the integrity of the marketplace. |
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How is the principle-based approach to regulation best described? |
Setting objectives for registered dealers and allowing them to decide how best to meet those objectives. |
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The principle-based approach, when compared to the rules based approach, is: |
Clearer, simpler and less costly to implement than a rule-based approach. |
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The rules-based approach, compared to the principle-based approach, is based mostly on: |
Adherence. |
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For a CCO, what are the two most important SROs? |
IIROC and the Montreal Exchange (Bourse de Montréal). |
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What SRO is responsible for enforcing the Rules regarding trading activities of individuals and dealer members? |
The Investment Industry Regulatory Organization of Canada (IIROC). |
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In addition to disciplinary and regulatory sanctions, a breach of the Rules may also lead to civil litigation and criminal proceedings against what party (parties)? |
A dealer member firm and/or its representatives. |
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The standard of proof that must be proven in a civil proceeding is: |
Based on a balance of probabilities (i.e.: more than a 50/50 standard). |
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Dealer members have a duty to provide advice to clients fully, honestly, in good faith and applying skill and knowledge. Which of the following three breaches are involved in the most common actions against dealers? |
Know your client, suitability and confidentiality breaches. |
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Which securities related offences appear in the criminal code? |
Fraud, theft and forgery. |
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Crime is considered to be a wrong against which party (parties)? |
Society. |
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What was the original purpose of the Canadian Securities Regulator Transition Office (CSTO)? |
To assist in the establishment of a national securities regulator. |
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Which is not a feature of Self-Regulatory Organizations? |
They enforce securities legislation. |
