Two key issues — the best-interests standard and reform of mutual fund fees — require timely and effective action
In part two of a three-part series, John Fabello, securities lawyer and partner, Torys LLP, discusses the potential legal definitions of a best interest standard. He explains how a best interest standard would be viewed by courts and regulators and discusses the possible litigation impact on advisors. He spoke with Patricia Chisholm, senior editor, Investment Executive at the TMX Broadcast Centre in Toronto.
Panel calls on OSC to address OBSI’s inability to enforce recommendations for investor compensation
With a new "best interests" standard being discussed and more clients willing to complain about losses, advisors need to assess their litigation risks
New governments amendments to recent reforms are designed to ease burdens on advisors and the industry
While investor protection undoubtedly is desirable, too much may result in negative consequences, significant costs and reduced services
Status reports conclude more work is necessary in both areas
Everyone agrees that we need to put clients’ interests first; the disagreement is in how this should be done
Many U.S. investors confused about which type of financial professional to retain
Analysis examines the question of whether it is necessary to introduce a fiduciary duty on advisors in Canada