The Mutual Fund Dealers Association of Canada is pushing ahead with proposed rule changes to improve the disclosure of transaction costs for clients despite some objections from members of the financial services industry.The MFDA had published a proposed new rule for comment this past summer. That rule would require mutual fund dealers to tell clients […]
Rule intended to address complaints from investors who were not informed of fees and charges
Flat fee commission rate of $9.99 per Canadian or U.S. equity trade
Alpha IntraSpread facility will be particularly beneficial to retail brokers: Schmitt
New rule would require dealers to advise clients of direct transaction fees and charges upfront
50% cut for securities valued at below $1
Fees for certain trades to fall 24%
Last year’s surge in commission revenue was driven in part by forced selling in reaction to the market turmoil
The changes will help reduce the cost of trading and promote liquidity
Elkins/McSherry report says costs on the exchange improved from Q4, when it was still ranked first