The Ontario Securities Commission’s (OSC) Investor Advisory Panel (IAP) has submitted its annual report: it wants to see all third-party embedded commissions and remuneration eliminated. The IAP is also calling for a single regulatory organisation to oversee both mutual funds and segregated funds.
Over the course of last year the IAP says it “repeatedly urged” the OSC to create a best interest standard which would outline the obligations that advisors have towards their clients. The IAP says this standard should put the interests of financial consumers “before those of the industry that services them”.
ANDREW RICKARD – Insurance & Investment Journal – April 20, 2016.