Tag Archives: client-registrant relationship

IIAC Comments on the CSA Reforms Related to the Client-Registrant Relationship (IIAC Blog)

IIAC Comments on the CSA Reforms Related to the Client-Registrant Relationship (IIAC Blog)

The CSA released its long-awaited proposals to address the client-registrant relationship. The IIAC is pleased the CSA has proposed a harmonized approach and moved away from an overarching best interest standard that would have created confusion and negative consequences for advisors and their clients.

The IIAC will respond vigorously within the 120-day comment period, engaging with member firms, to put forward recommendations for more practical and cost-effective rules and greater clarity in terms of expected conduct.

Click here to read our news release.

 

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IIAC Reacts to CSA Proposals to Improve the Client-Registrant Relationship (IIAC Blog)

IIAC Reacts to CSA Proposals to Improve the Client-Registrant Relationship (IIAC Blog)

The Canadian Securities Administrators (CSA) has published for comment a paper which proposes regulatory action to improve the client-registrant relationship.

The IIAC’s preliminary observations are as follows:

The IIAC shares the grave reservations of the provincial regulators in BC, Quebec, Alberta, Manitoba and Nova Scotia. The proposed client best interest standard would lead to uncertainty and confusion on the part of advisors and clients, with some advisors and firms restricting products and services, and some clients having unrealistic expectations. Litigation and increased legal costs will likely arise. 

The IIAC agrees with the BCSC that an … Continue reading

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