"The Canadian Securities Administrators recently introduced a new industry standard aimed at enhancing the protection of vulnerable clients within the financial sector. This standard introduces the concept of a Trusted Contact Person (TCP) who serves as an additional safeguard for your accounts.
What is a TCP?
A TCP is an individual whom you trust and authorize to be contacted in case there are concerns regarding potential financial abuse or exploitation of your account. They can communicate with us if they suspect any financial abuse, exploitation, or if they notice financial decisions being made that don't align with your typical behaviour.
A TCP is an individual whom you trust and authorize to be contacted in case there are concerns regarding potential financial abuse or exploitation of your account. They can communicate with us if they suspect any financial abuse, exploitation, or if they notice financial decisions being made that don't align with your typical behaviour.
Who can serve as a TCP?
Your trusted contact can be any of the following individuals:
Your trusted contact can be any of the following individuals:
- Close friend or family member
- Caregiver
- Accountant
- Another third party whom you believe would respect your privacy and possess the necessary skills to handle this responsibility effectively.
To establish your chosen TCP, you will need to provide their phone number and physical address, as well as confirm their relationship to you."
Comments
0 comments
Please sign in to leave a comment.