Susan Wolburgh Jenah, president & CEO, Investment Industry Regulatory Organization of Canada (IIROC), discusses the evolution of the investment regulatory landscape, including how to broach CRM-2 with clients, the fiduciary question, and professional standards in Canada. Jenah spoke at CIFPs 2014 in Halifax.
Investors have been fundamentally transformed by the financial crisis
Almost six in 10 survey participants are opposed to the introduction of a "best interest" standard for financial advisors
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
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