Regulatory

Bank customers reimbursed $10.5M, finds FCAC

In 2016-2017, financial institutions reimbursed $10.5 million to 1.2 million consumer accounts, reveals the annual report from the Financial Consumer Agency of Canada (FCAC). The reimbursement made up for inaccurate fee disclosure or interest rate calculations, or for incorrect charges to accounts. Read: Pro bono legal clinic backs wronged investors FCAC’s annual report also details […]

By Staff |October 6, 2017

1 min read

SIPA to regulators: Fix advisor registration sites, titles

CSA and IIROC accused of adding to investor confusion

By Staff |October 6, 2017

2 min read

Industry still waiting for best interest clarity

At the National Institute on U.S.-Canadian Securities Litigation in Toronto this week, regulators and litigators discussed industry developments. Best interest standard at a standstill? Panellists expressed concern about the best interest standard’s regulatory uncertainty and unintended consequences for advisors and firms’ business models. For example, the OSC needs to clarify the difference between a best […]

By Michelle Schriver |October 5, 2017

3 min read

ASC to hold forums on embedded commissions paper

The Alberta Securities Commission (ASC) will hold open forums to further explore issues raised in CSA’s consultation paper on the option of banning embedded commissions. The sessions will take place on Monday, October 23, 2017, from 1 to 3 p.m. in Calgary and on Tuesday, October 24, 2017, from 1 to 3 p.m. in Edmonton. […]

By Staff |October 2, 2017

1 min read