CCO Qualifying Practice Questions - Chief Compliance Officers Qualifying Examination Exam

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For a firm registered in multiple Canadian provinces, how is the 'principal regulator' determined under the passport system?

The regulator of the province where the firm generates the highest dollar volume of commission revenue. The Ontario Securities Commission (OSC) is always designated as the principal regulator. The regulator of the province where the firm's head office is located. The provincial regulator with the longest history of supervising the firm.

Correct Answer:

The regulator of the province where the firm's head office is located.

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