The CSA is focused on introducing greater investor-protection rules while planning to eliminate some of the unnecessary rules and requirements mutual funds face
New government expresses concern about CSA’s proposals
The province’s new government has come out against regulators’ proposals to ban DSCs on mutual funds, which were released for public comment Thursday
Panel expresses concern that DSC products may be sold more aggressively in advance of the prohibition being fully implemented
CSA anticipates its proposals will add costs for the industry
Lower revenue and higher compliance costs may force smaller firms out of business and impact advisor compensation
In its annual statement of priorities, regulator reinforces its commitment to CSA’s proposed reforms and bolstering banking ombudsman
Industry groups and investor advocates agreed on some of the proposed rules, but opinions were divided on the decision to allow embedded commissions to remain in place
But regulators are banning DSCs and enhancing regulatory requirements for registrants to avoid situations that place them in a conflict of interest
Series B units will no longer be offered for sale as of May 24