This presentation will review the emerging regulatory strategy relating to the treatment of older and vulnerable clients and explore some ideas about how advisors may deal with older and vulnerable clients in the new landscape.
The FCAC and the Canadian Bankers Association adopted a new Seniors' Code on July 26, 2019 that places responsibility on Canadian Banks to formalize their approach to dealing with Canada's seniors and help address or prevent elder financial abuse. Similarly in 2019, the Canadian Securities Administrators (CSA) also introduced guidelines for registrants to implement in order to protect vulnerable investors from fraud and financial abuse. Earlier this year, the CSA followed up the guidance by issuing a notice and request for comment regarding "Proposed Amendments to National Instrument 31-103 - Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) and Companion Policy (CP 31-103) to Enhance Protection of Older and Vulnerable Clients."
Speaker: Raphael Tachie
Senior Counsel, TD Bank Group
Raphael is Senior Counsel with TD Financial Bank Group ("TD") in Canada where he leads a team of legal professional staff in providing legal advice relating to older and vulnerable customers, incapacity, estate planning, estate administration and trusts to the enterprise and our business partners as it relates to our products, services and market conduct. We work closely with our business and other control partners in developing, implementing and maintaining best-in-class advice and sales practices and processes that are compliant with applicable laws and regulations.
Raphael earned his law degree from the University of Victoria, and his Master of Business Administration and Bachelor of Arts degrees from Simon Fraser University. He is a member of the Law Society of Ontario and the Law Society of British Columbia.
Raphael is also a long-time volunteer with the Canadian Association of Black Lawyers, the Canadian Bar Association and Simon Fraser University Alumni Association. He is currently serving on the Board of Directors of the Canadian Association of Black Lawyers, the Canadian Bar Association's National Estates and Trust Section and the Ontario branch of the Canadian Corporate Counsel Association. Raphael also previously served two terms on the Board of Directors of the Simon Fraser University Alumni Association.
We promote cross-education, referrals and connection for Estate Planning professionals and foster a collaborative approach to Estate Planning and share Estate Administration best practices.
We link and support Estate Planners across Canada and represent a global community online.