By James Langton
(October 24 – 15:50 ET) – The Joint Forum of Financial Market Regulators says it will soon release regulatory principles designed to provide Canadians with better investment information and is seeking to develop a dispute resolution system.
“There is a growing trend in capital accumulation plans to allow members to select their own investments,” said Dina Palozzi, chairwoman of the Joint Forum, and CEO and Superintendent of the Financial Services Commission of Ontario. “These decisions impact their retirement income and underscore the importance of access to clear, objective information about the risks and benefits of different investment options.”
The Joint Forum says it has developed principles to provide Canadians with enhanced information to help them achieve their retirement goals. The proposed principles will soon be released for consultation with the pension, insurance and securities industries and consumer groups.
Palozzi says that developing a comprehensive dispute resolution system is also a key priority for the Joint Forum, and that it will work with federal and provincial governments, consumers and the financial services industry to design an alternative to potentially costly civil actions in the financial services sector.