54(1)Subject to subsections (2) and (3), a registrant shall act fairly, honestly and in good faith with its clients.
54(2)A registrant that manages the investment portfolio of a client through discretionary authority granted by the client shall act fairly, honestly and in good faith toward the client and in the client’s best interest.
54(3)Every investment fund manager shall
(a)
exercise the powers and discharge the duties of its office honestly, in good faith and in the best interests of the investment fund, and
(b)
exercise the degree of care, diligence and skill that a reasonably prudent person would exercise in the circumstances.
(a)
act fairly, honestly, in good faith and in the best interest of a client of the registrant,
(b)
exercise the degree of care, diligence and skill that a reasonably prudent person would exercise in the circumstances,
(c)
not engage in conduct that would bring the reputation of the capital market into disrepute,
(d)
take all reasonable steps to learn the essential facts about the identity, reputation and financial circumstances of each of the clients of the registrant and to keep current the registrant’s knowledge of those essential facts, and
(e)
ensure that the recommendations made to a client of the registrant are appropriate to the general investment needs and objectives of the client and the client’s risk tolerance level.