Just what are the rules around advisors accepting awards and telling the world about their achievements? It seems advisors and firms had questions after a CSA and CIRO email in August that warned about referencing awards during client-facing interactions. The regulators updated their FAQ last week to include more specific prohibitions. Melissa Shin reports.

Under new trust reporting rules, your clients may have to file a T3 Trust Income Tax and Information Return — even if there is no income or activity to report. The new rules also include bare trusts. As columnist Vivek Bansal explains, if your clients have arrangements where beneficial ownership is separated from legal ownership of an account or asset, they could be subject to the requirements.

An executive shuffle at TD has led to a new head of the bank’s wealth business. Ray Chun is now group head for Canadian personal banking, taking over from the departing Michael Rhodes. Tim Wiggan is stepping into Chun’s former role as group head of wealth management and insurance. Meanwhile, Scotiabank is adding more advisors to its branches as it looks to expand its asset management footprint.

How do you respond to a cyberattack? If you don’t already have a plan, you need one. Wealth management practices of all sizes should take preventative measures, create an incident response plan and know what to do during a breach. Jonathan Got explains the steps. Identifying clients has also become more fraught in an era of remote interactions and voice-cloning AI. Jonathan also wrote this week about ways to authenticate your client’s identity.

Finally, the federal government’s latest refinement of its general anti-avoidance rule (GAAR) failed to provide any penalty relief — and actually made the penalty slightly worse.

We’re taking a holiday break at the Weekly Indicator. Stay tuned to the regular Advisor.ca AM Bulletins for news. The weekly will be back on Jan. 6 to wish you a belated happy new year.