Although some countries have banned embedded commissions or adopted a best interest standard, most have just sought to enhance disclosure
Dispute over BIS may threaten creation of national regulator
Andrew Kriegler also pointed out during a discussion that the words “best interest” are already an integral component of IIROC’s rules
Keith Costello, president and CEO, Canadian Institute of Financial Planners, explains why a one-size-fits-all best interest standard won’t work.
As a result of the regulators’ move, the investor advocacy group is now against the proposed national regulator
The association is calling on the ASC, AMF, BCSC and MSC to encourage the remaining provincial regulators to adopt a similar stance
Despite alignment on several issues, best interest standard remains a key point of divergence
Vast majority also back a best interest standard
A remarkable 71% of investment advisors support the CSA's proposal to introduce a best interest standard due to the need to elevate industry standards across the board and to increase transparency in advisor/client relationships
Government plans to study universal “best interest” duty