New report also recommends a simplified approach to dealing with consumer complaints and a consumer-friendly process for recovering losses
A CSA consultation paper will be published at the end of April
The DOL rule’s impact will likely vary based on a firm’s size and the sales channel it occupies
Ontario’s provincial regulator aims to achieve “better alignment between the interests of investors and their advisors,” according to its draft statement of priorities
The carve-outs for any proposed best interest standard to avoid adverse market consequences would be extensive and complicated
Panel says investors are paying the price of regulatory inaction
Securities and insurance regulators should get involved
The regulator is also continuing its examination into the need for a “best interests” standard for financial advisors
Disclosure is largely a “waste of time” because investors don’t read it, Australian regulator says
Advisors already owe extensive duties to their clients within the obligation to deal honestly and fairly with them