Selling products outside the jurisdiction of securities regulators may seem desirable
U.S. industry is generally willing to bear costs in order to benefit retail clients, lobby group says
Regulator releases final Statement of Priorities for 2013-14
Industry members discuss possible costs of adopting a statutory best interest standard for advisors and dealers
Discussion designed to reflect the diversity of views held by investors and the advisors
Eleanor Farrell, director, Office of the Investor, Ontario Securities Commission, discusses the consultation paper on the introduction of a statutory best interest standard for advisors and dealers. She outlines five concerns the Canadian Securities Administrators have with the current know your client, suitability, and know your product standard. Farrell spoke at the CIRPs annual conference in Niagara Falls, Ont.
The costs would sink many small dealers, and advisors would be more vulnerable to lawsuits, lawyer says
CSA paper’s position on investment costs is causing confusion
Regulator will hold one session for investors, another for advisors, industry groups
U.S. securities industry trade group says there should also be uniform supervision of brokers and advisors