Croesus was a sponsor of the Client Relationship Model (“CRM2”) Conference jointly organised by the Investment Industry Association of Canada (“IIAC”) and the Investment Industry Regulatory Organization of Canada (“IIROC”).
Karen Roger, partner at Langlois Kronström Desjardins, and André Fok Kam, consultant to the securities industry, discussed impacts of the new rule on client relationship and actions to take in order to be ready for the new rule implementation.
The four core principles of the CRM2 are better relationship disclosure; improved management and disclosure of conflicts of interest; enhanced account suitability; and more transparent account performance reporting.
As part of its dedication to support the investment industry on market advancement initiatives, Croesus is an IIAC affiliate member. Moreover, in order to collaborate in solving timely industry challenges, Croesus is part of the IIAC CRM2 Implementation Working Group to identify and solve CRM2 implementation problems, and is also part of the IIAC Market Value Working Group to review reporting requirements in detail.
Joining IIAC allows Croesus to better understand and support CRM2, share its expertise and ensure that its product will help its clients to better meet the new compliance requirements.
Since 1987, Croesus has provided brokerage firms and independent advisors an advanced portfolio management and integrated CRM software. Croesus enables investment advisors to improve the management of portfolios and relationships, optimize the assessment of performance returns, while reducing exposure to risk by meeting GIPS compliance requirements. As a comprehensive solution, the Croesus SaaS platform integrates with major back-end systems such as IBM, custodians like TD Ameritrade and financial information providers that include Morningstar, Thomson One and Fundata. The software of choice for leading brokerage firms like CIBC Wood Gundy and National Bank Financial, Croesus clients manage over $500 B in total Assets Under Management.
The Investment Industry Association of Canada (IIAC) is the national association representing the investment industry’s position on securities regulation, public policy and industry issues on behalf of our 166 IIROC-regulated investment dealer Member firms in the Canadian securities industry. These dealer firms are the key intermediaries in Canadian capital markets, accounting for the vast majority of financial advisory services, securities trading and underwriting in public and private markets for governments and corporations. The IIAC provides leadership for the Canadian securities industry with a commitment to a vibrant, prosperous investment industry driven by strong and efficient capital markets. For more information, visit the IIAC website at www.iiac.ca.
IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces. For more information, visit the IIAC website at www.iiroc.ca.
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