Ethics, compliance & disclosure

• QuestionWhat is "Conflicts of interest and how you're paid"?Tap to revealAnswerHow you're paid can bias what you sell — name conflicts, disclose what you can't avoid, and resolve them for the client.
• QuestionIn "Conflicts of interest and how you're paid", explain:Tap to revealAnswerCompensation is the central conflict — commissions, trailers, incentives, targets.
• QuestionIn "Conflicts of interest and how you're paid", explain:Tap to revealAnswerIdentify material conflicts and address them in the client's best interest.
• QuestionIn "Conflicts of interest and how you're paid", explain:Tap to revealAnswerDisclose conflicts you can't avoid; avoid those you can't manage in the client's favour.
• QuestionIn "Conflicts of interest and how you're paid", explain:Tap to revealAnswerWatch subtle conflicts: sales contests, proprietary-product pressure.
• QuestionWhat is "Disclosure and plain-language transparency"?Tap to revealAnswerReal disclosure means the client can explain, in plain words, what they're buying, what it costs, and what could go wrong — before they decide.
• QuestionIn "Disclosure and plain-language transparency", explain:Tap to revealAnswerDisclose key features, risks, costs, compensation, and the relevant documents.
• QuestionIn "Disclosure and plain-language transparency", explain:Tap to revealAnswerPlain language is required — disclosure the client can't understand doesn't count.
• QuestionIn "Disclosure and plain-language transparency", explain:Tap to revealAnswerConfirm understanding by having the client explain it back.
• QuestionIn "Disclosure and plain-language transparency", explain:Tap to revealAnswerKey disclosures belong before the decision, not buried after.
• QuestionWhat is "Professional conduct and ethics"?Tap to revealAnswerAct with honesty and within your competence; if a recommendation wouldn't survive being read aloud later, don't make it.
• QuestionIn "Professional conduct and ethics", explain:Tap to revealAnswerConduct = honesty, integrity, fair dealing, competence, no pressure.
• QuestionIn "Professional conduct and ethics", explain:Tap to revealAnswerStay within your licence and knowledge; refer what exceeds it.
• QuestionIn "Professional conduct and ethics", explain:Tap to revealAnswerGrey-area test: would it embarrass you if reviewed later?
• QuestionIn "Professional conduct and ethics", explain:Tap to revealAnswerHeightened care for vulnerable clients.
• QuestionWhat is "Complaints, records, and privacy"?Tap to revealAnswerDocument advice and disclosures, handle complaints by the process, and guard client data — records protect everyone.
• QuestionIn "Complaints, records, and privacy", explain:Tap to revealAnswerDocument KYC, advice and its basis, disclosures, and instructions.
• QuestionIn "Complaints, records, and privacy", explain:Tap to revealAnswer'If it isn't documented, it didn't happen' — records protect client and rep.
• QuestionIn "Complaints, records, and privacy", explain:Tap to revealAnswerHandle complaints through the defined process and escalation routes (e.g., OBSI).
• QuestionIn "Complaints, records, and privacy", explain:Tap to revealAnswerRespect privacy law (PIPEDA): collect only what's needed, protect it, use it as disclosed.

1. 1Write an explain-it-back disclosure

   Create~15 min

   Draft a short script that discloses a fund's cost, main risk, and how you're paid in plain language, ending with a question that confirms the client actually understood.

   Done when: The script avoids jargon, covers cost + risk + compensation, and ends with a genuine comprehension check.

   Re-read the source concept

Why this matters. Reading + quizzing prove recall; applying it in a real situation is the only evidence of transfer. Treat at least one of these as non-negotiable before you move on.