The Ontario Securities Commission (OSC) will host a roundtable to facilitate further stakeholder input on Canadian Securities Administrators (CSA) Consultation Paper 81-408 to ban embedded commissions.

Read: CSA’s embedded commissions ban falls short for clients, say advisors

The roundtable is on September 18, 2017, from 12:30 p.m. to 4:30 p.m. on the 22nd floor of the OSC’s offices, located at 20 Queen Street West in Toronto.

The event will include panel discussions — reflecting a diversity of views — on themes emerging from the consultation.

Read: No advice gap from other commissions bans: investors

To be a panellist at the roundtable, send an email with full contact details to

Read: Industry response to embedded commissions ban: IFIC and Advocis

Additional details, including the agenda, panellists and how stakeholders can register to attend, will be published the week of August 14.

Dates for roundtables hosted by other CSA jurisdictions will be announced by the respective regulators.

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Robert Blair

A comment on embedded commissions.
The concern I have for my clients is about 50% of my time is spent doing general financial planning not involving any discussion about investments or investment planning. As general financial planning is not a deductible expense this will cause some additional tax expense for my clients.
Fully embedded products deduct the MER then pass along what is left to the investing client. This structure effectively reduces what the client receives but does result in the embedded fee to be fully deducted. This is not a line item deduction when you do your taxes but does provide the same effect.
with a fee for service model the commission is separated and paid directly to the planner. This will result in the general financial planning work being done to not be a deductible expense.
To only allow for fee for service will result in higher costs for the investing public and potentially additional tax burden.

Wednesday, Jun 28, 2017 at 10:52 am Reply

Keith Hylton

Banning embedded commissions not only separates the rich from the average but it also keeps the average from obtaining the advise they need to potentially improve their financial situation. Plus, advisors may not be able to service children from clients who have money because their children are just starting out and they have no money. This will cause an issue with the client that will either end the relationship or force the advisor to service the client’s child for free. Furthermore, advisors become hard pressed to take on and/or keep clients that have little or no assets.

Tuesday, Jun 20, 2017 at 1:36 pm Reply