The obligation for advisors to provide retirement advice that puts clients’ best interests first will now kick in on June 10
Ontario’s government intends to work with the province’s financial regulators on many of the Expert Committee’s recommendations
Many say the industry should be acting in clients' best interest - and regulators should introduce a standard that would apply to dealers and advisors
The regulator will also look at ways to be more responsive to solutions from the investment industry while maintaining appropriate investor protection
The report makes several recommendations dealing with titles and credentials that are likely to have a significant impact on many in the investment industry
The regulatory roundtable discussion revealed the deep divisions within the investment industry concerning the prospect of the CSA introducing this standard
The event will examine the proposed reforms that CSA put forth in a consultation paper this past April
The panels dealing with the CSA’s proposed reforms will focus on the proposed best interest standard as well as the other key targeted reforms
Those still timorous and uncertain about introducing a best interest duty have a duty, themselves, to become decisive