🔥 Daily ChallengeCIREOverview of Canadian securities regulatory frameworkEasy
What action must a Mutual Fund Dealer take if a salesperson has completed the full 6-month training and supervision period but still demonstrates a lack of proficiency in trade suitability?
5 attempts · 80% correct
The dealer may allow the salesperson to work independently but must double their insurance coverage
The dealer must extend the supervision period until they are satisfied with the registrant's performanceCorrect
The dealer must report the salesperson to the provincial securities commission for further testing
The dealer must terminate the salesperson's registration immediately
Why
If a salesperson does not meet expectations, the supervision and training period must be extended and the extension must be documented.
