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Advisors such as EMDs Need to Reduce Risk - Make transparency Your Goal

May 14, 2012  
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Advisors such as EMDs Need to Reduce Risk - Make transparency Your Goal

In this 4-part series produced by Investment Executive, Ellen Bessner, a litigation partner with Cassels Brock, explains the importance of transparency by advisors, such as Exempt Market Dealing Representatives, when it comes to legal matters regarding client relations, product knowledge, and relationships with compliance staff and regulators.

Transparency: Getting honest answers from clients

In part 1 of this series, Ellen explains why advisors need to elicit honest and thorough answers from clients about the business.

Avoid surprises: Be transparent with clients
In part 2 of this series, Ellen says clients don’t like to be surprised. She describes how advisors can avoid surprises.

Can’t see through a product? Don’t sell it
In part 3 of this series, Ellen discusses how advisors can be transparent about the products they sell.

Be transparent with your compliance officer
In part 4 of this series, Ellen argues that advisors shouldn’t hide from their compliance departments.

Ellen is a litigation partner whose practice focuses on acting for corporations in commercial litigation, regulatory defence, professional liability, securities class action proceedings, and employment disputes. She has developed a special niche representing public issuers, investment dealers, mutual fund dealers, exempt market dealers, portfolio managers, compliance officers, branch managers/supervisors, and advisors in Ontario courts of all levels and at various regulatory tribunals, including OSC, TSX, TSX-V, IIROC and MFDA. She has also developed an expertise advising directors and senior officers in respect of company and personal risk.

Ellen’s well-regarded book, Advisor at Risk, a Roadmap to Protecting Your Business, available at Chapters/Indigo, is considered a leading risk-reduction tool in the area. Ellen has developed comprehensive programs to instruct advisors/agents/traders and their supervisors in reducing litigation and regulatory risk, presenting on liability, ethics and compliance. Her courses qualify for continuing education credits. Ellen can be reached at (416) 860-5514 or ebessner@casselsbrock.com.

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