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Impact of National Instrument 24-101 from a Sell-side Firm's Perspective

This article by Lorne Rintoul, Vice-President of Securities Operations at Scotia Capital, discusses the four key aspects of NI 24-101 and the issues and challenges faced by the broker/dealer community. It emphasizes the importance of mutual dependency, an integrated approach, upgraded applications and processes, and industry best practices and standards in compliance with NI 24-101.

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Impact of National Instrument 24-101 from a Sell-side Firm's Perspective

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  1. National Instrument 24-101A perspective from a Sell-side FirmLorne RintoulVice-President Securities OperationsScotia Capital

  2. Impact of NI 24-101Four Key Aspects • Mutual dependency • Integrated approach • Upgraded applications and processes • Industry Best Practices and Standards

  3. Mutual Dependency • Dealers • Institutional Clients • Custodians • Partners

  4. Integrated Approach • Front / Middle / Back Office Cooperation • Client Relationship Issues • Client Documentation

  5. Process Improvement and Application Upgrades • Desire for Improved Processing • Cost Constraints / Conflicting Priorities • Mandate to be more efficient • Marketplace Awareness / Involvement

  6. Industry Best Practices and Standards • CCMA Best Practices • Standard Data Elements

  7. Next Steps • Determine current status • Engage your team • Review internal processes • Develop an action plan • Use CCMA Internal Resources

  8. National Instrument 24-101Issues and Challenges Faced by the Broker/Dealer CommunityLorne RintoulVice-President Securities Operations – ScotiaCapital March 2007

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