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
New lawsuit and SRO proposals could affect CSA’s decision
After a year of intense debate over a ban on embedded commissions, all eyes are on the CSA
The low-load DSC option will continue to be available, and investors with existing standard DSC purchase option holdings will remain invested based on their mutual funds' redemption fee schedule
What regulators will decide to do on this remains unclear — and the discussions held on Monday did little to clarify the issue