Canadian securities regulators release status reports on mutual fund fees and implementing a best interest duty for financial advice
The Canadian Securities Administrators (CSA) today released status reports on two consultations it held recently. One reviewed the current fee structure associated with mutual fund products and the other was to explore implementing a best interest duty for financial advice provided to retail consumers.
The CSA reports it received over 95 written responses to each of these consultations from a variety of industry and consumer groups. In addition, it held various stakeholder sessions to gather more input. It has concluded that the two consultations are sufficiently interconnected that it needs to consider them together not as two separate issues. The CSA says it will publish what, if any, further steps it needs to take in the coming months.
The status reports are available on each provincial securities regulator’s website.
To access them on the OSC website click here http://www.osc.gov.on.ca/en/home.htm.