IIROC has also proposed amendments to trading rules to conform to the CSA’s policy approach
Research shows that mutual funds with higher embedded commissions drive sales and that advisors are sometimes biased in favour of these products
New CSA head Louis Morisset has a crowded docket to deal with, including consideration of a fiduciary duty for advisors
Proposed changes include “entitlement and corporate action event management” fees for issuers
The two new proposals are intended to further simplify regulatory processes
Amendments intended to reduce regulatory burden without compromising investor protection
There is a consensus that the Canadian securities industry will be able to make a smooth transition to T+2 once a date has been set
A proposed 120-day requirement is intended to ensure that boards have enough time to respond to unsolicited take-over bids
The AMF’s Louis Morisset succeeds Bill Rice
Investor advocates unhappy with delay of research results on the impact of fees on fund sales