The move is intended to reduce regulatory uncertainty following the CSA’s plan to propose rule changes
The self-regulatory organization aims to improve its surveillance capability
The announcement follows a similar proposal against TD Asset Management launched in April and the CSA’s proposal to ban mutual fund firms from paying discount brokerages trailer fees
The self-regulatory organization expects firms to rebate the portion of a mutual fund’s trailing commission that is related to advice
The action against TD Asset Management claims damages of $200 million
Clients of the U.S. discount brokerage can gather news, do their research, get real-time quotes and take action
The self-directed brokerage industry has come under fire since late December
Several marijuana companies have taken a major hit
Customers complain on social media
Second place Questrade moves up one position from 2016