compliance-rules

Advisors, investors and markets would all benefit from a single national regulator, says IIAC in its recent newsletter.

So, the organization has outlined the regulatory problems Canada faces under its current regime. In a table including ten categories, such as registration matters and enforcement, IIAC looks at why a national regulator is the solution to several key challenges.

Read: National regulator gaining momentum: Oliver

For example, we currently have 13 separate, provincial regulators that use Securities Acts that are only partially harmonized. When it comes to proficiency requirements of advisors, says IIAC, “regulators in each jurisdiction may have different views or interpretations of the rules, which can result in delays in obtaining registration [in multiple jurisdictions].”

Read:

Further, enforcement of regulations across provinces is inefficient, given Commissions often struggle to launch coordinated investigative efforts. That’s a problem since “many contraventions involve inter-provincial securities distributions,” says IIAC.

Read: Regulatory daisy chain threatens advisors

Click here to find out how adopting a single regulator would help solve these problems.

Also read:

Firms failing to grasp compliance basics: IIROC

5 items regulators focus on when you’re audited

Update on global regulatory initiatives

Regulator won’t stop at CRM 2

OSFI’s three challenges

Originally published on Advisor.ca
See all commentsRecent Comments

RAYMOND.ANDERSON.7

Who’s really going to benefit is a gaggle of otherwise unemployable lawyers in Ontario. This move will cost investors and advisors a ton of cash to finance the deal

Thursday, February 12 @ 2:56 pm //////

Add a comment

You must be logged in to comment.

Register on Advisor.ca