PMAC wants CSA to leave pooled funds out of client-focused reforms
Denys Calvin of Nexus investment Management elected chairman
The draft template details the obligations of investment dealers and portfolio managers in serving shared clients
In addition to welcoming four new directors, the organization has elected Eric Léveillé, most recently vice chairman and treasurer, as its new chairman
The association also recommends the CSA take a more tailored approach to reworking existing regulations rather than the proposed “targeted reforms”
The trade association encourages co-ordination of any provincial changes with the federal consultation committed to in the 2016 federal budget
Extending the deadline by another six to 12 months would give the investment industry time to make a proper transition
PMAC says that changes are needed to spur participation in PRPPs, which have failed to gain much traction
The association is also calling on Ottawa to continue working with the provinces on establishing the co-operative capital markets regulator
But there are concerns about transition to the new regulator and the possible creation of fiduciary standard for advisors