The Conseil des professionnels en services financiers (CDPSF), a trade group for financial advisors in Quebec, is asking advisors in the province to share their views on the prospect of a ban on embedded commissions in a new survey.
“The CDPSF is launching a brainstorming process on this important issue, which has to undergo rigorous analysis and will contribute to the CDPSF’s stand during future consultations,” says Mario Grégoire, president and general manager of the CDPSF, in a statement.
The Canadian Securities Administrators (CSA) is planning to release a consultation paper by the end of the year that will propose options for addressing regulators’ concerns, including a possible ban on embedded commissions, in the wake of research showing that embedded trailer commissions influence mutual fund sales and impact performance.
The CDPS is calling on all advisors in Quebec to participate in its research survey, which is accessible on the group’s website until Dec. 30.
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