Advocis Helps Members Meet New Anti-Money Laundering Regulations

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New Suite of Support Services Educate, Guide and Train Advisors

August 20, 2007, Toronto, ON � Advocis (The Financial Advisors Association of Canada) today launched a new series of support services to assist its members integrate the new obligations under the Proceeds of Crime and Terrorist Financing Act. The new suite services educates members on the sweeping changes to the Act and what it means to them and their practice, guides them on how to adopt the new obligations in a cost effective way and offers training which is required under the Act.

�There are numerous compliance obligations under this Act that members need to act on above and beyond their obligation to report suspicious activity,� said Steve Howard, Advocis president. �That is why after vigorously advocating on behalf of members and winning some concessions, we have developed the tools that advisors need to become compliant.�

The Act also compels advisors to have a compliance regime in place regardless of the size of practice or discipline. These include the development and application of compliance policies and procedures and the implementation of an ongoing compliance-training program among others.

The comprehensive suite includes a new Emerging Regulatory Issues Bulletin, new content in the Advocis Best Practices Manual (BPM) and a web-based training/education CE module. The Bulletin describes the general requirements. The enhanced regulatory section of the BPM now includes a detailed examination on how to comply with the Anti-Money Laundering responsibilities advisors now have. Advocis members also have free access to an online module on this subject that can earn them one CE ethics credit that can be used as the basis of the new ongoing compliance training and education requirement.

Emerging Regulatory Issues Bulletin link:

About Advocis

Advocis is a national professional association that prepares, promotes and protects financial advisors in the public interest. We do this by providing a professional platform including career support, designations, best practices direction, education, timely information and professional liability insurance. This strengthens the relationship of trust and respect between financial advisors and their clients, the public and government. The Association’s website is