Branch Compliance Officer

About Course

The Branch Compliance Officer’s Course (BCO) is designed for individuals who supervise mutual fund sales representatives.

After completing the course, participants will have acquired the competencies to effectively manage and supervise all aspects of a financial institution’s mutual fund dealings within an operating branch.

The provincial securities commissions’ registration requirements for a branch manager or branch compliance officer of a mutual fund dealer operating within a branch of a financial institution
The business practices and relevant legislation for operating a branch
How to establish guidelines for sales representatives to adhere to regulatory requirements and in-house materials of the mutual fund dealer
How to ensure that sales representatives respect the disclosure requirements to clients
The requirements for reviewing orders for proper documentation, improper sales techniques, and leveraged purchases
How branch managers implement branch-level internal controls and procedures

Course Content

Topic 1 – The Role of a Branch Compliance Officer

Topic 1: Introduction

05:13
LO1: Define the Responsibilities and Authority of a Branch Compliance Officer within the Financial Services Industry

00:00
LO2: Describe the Physical Structure of a Branch and Explain Its Relevance to Compliance Oversight

00:00
LO3: Explain the Relationship Between the Branch, Head Office, and Regional Compliance Officer, and Evaluate the Importance of Communication Channels

00:00
LO4: Analyze the Role of Staff Training in Maintaining Compliance and Summarize Best Practices for Effective Delivery

00:00
LO5: Knowledge Check

Topic 2 – Mutual Fund Industry Regulation – Part I

Topic 2: Mutual Fund Industry Regulation – Part II

Topic 3 – Registration Requirements

Topic 3: Introduction

00:00
LO1: Describe the Registration Process For Sales Representatives and Define Qualification Criteria

00:00
LO2: Explain Restrictions On Sales Representatives and Analyze their Purpose In Client Protection

00:00
LO3: Identify Categories of Investment Industry Registration and Evaluate their Significance

00:00
LO4: Summarize Post-Registration Requirements and Compliance Responsibilities of Sales Representatives

00:00
LO5: Explain Continuing Education Requirements and Evaluate their Role In Maintaining Professional Competence

00:00
LO6: Analyze Monitoring Procedures For Sales Representatives and Assess their Effectiveness In Ensuring Compliance

00:00
LO7: Knowledge Check

About Course

What Will You Learn?

Course Content

Topic 1 – The Role of a Branch Compliance Officer

Topic 1: Introduction

LO1: Define the Responsibilities and Authority of a Branch Compliance Officer within the Financial Services Industry

LO2: Describe the Physical Structure of a Branch and Explain Its Relevance to Compliance Oversight

LO3: Explain the Relationship Between the Branch, Head Office, and Regional Compliance Officer, and Evaluate the Importance of Communication Channels

LO4: Analyze the Role of Staff Training in Maintaining Compliance and Summarize Best Practices for Effective Delivery

LO5: Knowledge Check

Topic 2 – Mutual Fund Industry Regulation – Part I

Topic 2: Introduction

LO1: Explain the Role of Securities Regulation in Safeguarding Investor Interests

LO2: Compare Provincial and Territorial Securities Acts and Summarize their Key Provisions

LO3: Describe the Structure and Function of the Canadian Securities Administrators and Evaluate Its Effectiveness

LO4: Identify the Role of Self-Regulatory Organizations (SROS) and their Impact On Mutual Fund Compliance

LO7: Summarize the Standards of Conduct and Client-Focused Reforms, and their Implications For Branch Compliance

Knowledge Check

Topic 2: Mutual Fund Industry Regulation – Part II

LO5: Explain Anti-Money Laundering (AML) and Anti-Terrorist Financing Obligations, with application to Compliance Scenarios

LO6: Describe Purchasers’ Statutory Rights and How they Protect Clients

LO8: Explain the Rules For Telemarketing and DNCL, and their Enforcement at the Branch Level

Knowledge Check

Topic 3 – Registration Requirements

Topic 3: Introduction

LO1: Describe the Registration Process For Sales Representatives and Define Qualification Criteria

LO2: Explain Restrictions On Sales Representatives and Analyze their Purpose In Client Protection

LO3: Identify Categories of Investment Industry Registration and Evaluate their Significance

LO4: Summarize Post-Registration Requirements and Compliance Responsibilities of Sales Representatives

LO5: Explain Continuing Education Requirements and Evaluate their Role In Maintaining Professional Competence

LO6: Analyze Monitoring Procedures For Sales Representatives and Assess their Effectiveness In Ensuring Compliance

LO7: Knowledge Check

Topic 4 – Account Opening – Part I

Topic 4: Introduction

LO1: Explain the Key Steps and Documentation Required Before Opening An Account

LO2: Describe the Client–Sales Representative Relationship and Analyze Its Impact On Compliance Obligations

LO3: Complete and Evaluate Account Opening Forms, Ensuring Accuracy and Regulatory Compliance

LO4: Explain Know Your Client (KYC) Requirements and Assess their Role In Risk Management

LO5: Differentiate Between Account Types and Evaluate Account Protection Measures

Knowledge Check

Topic 4 – Account Opening – Part II

LO6: Explain AML/ATF Requirements and Apply them In Account Opening Scenarios

LO7: Summarize FATCA Requirements and Assess their Implications For Compliance Officers

LO8: Analyze the Role of Powers of Attorney and Internal Control Procedures In Safeguarding Client Accounts

LO9: Explain the Importance of Updating Client Information and Evaluate Systems For Accuracy and Compliance

Knowledge Check

Topic 5 – Disclosure Requirements

Topic 5: Introduction

LO1: Define Disclosure Obligations At the Branch Level and Explain their Regulatory Purpose

LO2: Describe Required Disclosure Documents, Including Fund Facts, and Summarize their Content

LO3: Explain Additional Disclosure Requirements and Evaluate their Role In Investor Protection

LO4: Analyze the Required Form of Disclosure and Assess Its Effectiveness In Communicating With Clients

LO5: Explain How to Maintain Evidence of Disclosure Delivery and Evaluate Best Practices For Compliance Documentation

LO5: Knowledge Check

Topic 6 – Suitability Requirements

Topic 6: Introduction

LO1: Define Suitability In the Context of Mutual Fund Recommendations

LO2: Identify Suitable Investments For Different Client Profiles and Justify Recommendations

LO3: Differentiate Between Solicited and Unsolicited Orders and Analyze Compliance Responsibilities

LO4: Explain the Use of Leverage In Client Accounts and Evaluate Associated Risks

LO5: Assess Suitability and Reasonableness Standards In Line With Regulatory Requirements

LO6: Knowledge Check

Topic 7 – Mutual Funds Performance Evaluation

Topic 7: Introduction

LO1: Explain the Process of Price/NAVPU Determination and its Impact On Clients

LO2: Describe Taxation Rules For Mutual Fund Income and their Effect On Client Portfolios

LO3: Summarize Performance Measurement Methods and their Reliability

LO4: Explain How Distributions Affect Client Accounts and their Implications For Long-Term Performance

LO5: Knowledge Check

Topic 8 – Dealing with Complaints

Topic 8: Introduction

LO1: Describe Types of Client Complaints and Reporting Requirements

LO2: Differentiate Between Routine and Serious Complaints and Escalation Procedures

LO3: Summarize Complaint Resolution Processes and their Role In Client Trust

LO4: Analyze Strategies For Managing Problem Clients While Maintaining Compliance Obligations

LO5: Knowledge Check

Topic 9 – Sales Representative Supervision – Part I

Topic 9: Introduction

LO1: Explain the Supervisor’s Role In Overseeing Client–Sales Representative Relationships

LO2: Describe Confidentiality Requirements and their Significance In Compliance