Dos and Don’ts for Exempt Market Dealers Part 1

One of the challenges in being an exempt market dealer involves knowing your client. There’s a lot to knowing your client that seems ambiguous, and the rules are often changing. It’s even more difficult considering that some clients may not want to share information with you—but just asking for the information isn’t enough for you to say you’ve tried. If the client won’t tell you, regulators want you to show you took reasonable steps to obtain the information, and you must collect sufficient information to be able to assess suitability.

While complying with the law may seem straightforward, proving you’ve done so in the face of a client complaint is a lot more difficult. You have to provide records showing that you do know your client and made appropriate suitability assessments. Knowing your client means knowing

• Their risk capacity
• Their personal circumstances
• Their financial liquidity
• Their financial assets
• Their knowledge and experience of investments

It can be complicated and overwhelming to keep track of everything while remaining compliant and still helping your clients. That’s why we’ve developed a webinar series—to help people like you feel more confident, comfortable, and secure in being an exempt market dealer.

The program is 10 modules long and is entirely online. It was written to answer the questions most exempt market dealers have—and to help you understand your roles and responsibilities. Because your life is busy, this program has been designed so you can complete it at your own pace.

We go into:

• Best practices for working with clients
• The client-focused reforms and vulnerable client requirements
• What a prospectus exemption is and why it’s important to you
• How to prepare for an examination
• Understanding the fundamentals of compliance
• And much more…

Veronica Armstrong Law Corporation has been in existence for over a decade, and we have realized that many new firms don’t fully grasp securities regulations and how they apply to their businesses. This program is intended to bridge that gap and help you become and remain compliant.

If you’d like to learn more about the program, please click here. Contact us through our website if you’d like to learn more about our firm, our people, and our services visit our website.