Compliance

Client Focused Reforms (CFR)

The 2021 CSA reforms that rewrote suitability, KYC, and conflicts of interest.

Definition

The Client Focused Reforms (CFR) came into force in 2021 across NI 31-103 and the CIRO Rules. Three big changes: (1) suitability moved to account-as-a-whole and explicit best-interest framing, (2) KYC content was expanded and standardised, (3) conflicts of interest must now be addressed in the client's best interest, not merely disclosed.

Source

CSA Notice 31-103 amendments; CIRO IDPC Rule 3402, 3500 series

Where this shows up on the CIRE

Outcome 3.4
Outcome 9.1

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