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November 2022 Advocacy Newsletter
Summary:
It’s time to say goodbye to pumpkin spice and those fall nights; hello to everything merry
and bright.
In terms of a bright light for investors, the CCIR and CISRO’s recent consultation contains
initiatives to increase cost and fee transparency in the sale of insurance products. The
Council supports the proposed ban on deferred sales charges (DSC) in segregated fund
sales and believe both prevalent upfront commission structures (DSC and Advisor
Chargeback options) should be banned because of the irresolvable conflicts they place
between intermediaries and their clients. The obligation of adherence to conflict-ofinterest
rules could be directly imposed on licensed individuals, through the
enhancement of regulatory structures and mechanisms. Our full summary is below for
those interested.
The Council has several response drafts in progress including the CSA consultation
regarding – Access to Real-Time Market Data. Market participants in Canada have raised
concerns about the accessibility and cost of real-time market data. The initial proposed
options focus on ensuring the existing regulatory regime facilitates fair access to realtime
market data by increasing transparency and standardized terminology, among other
things. The longer-term options propose an overhaul of the regulatory regime for
accessing consolidated real-time market data. These are exciting times that could work
to level the playing field in Canada for all market participants through thoughtful policy
action.
The Council will continue to work hard to bring thoughtful and meaningful comments to
the Regulators and SROs on behalf of our stakeholders in support of market integrity and
investor protection.
This commitment would not be possible without the work of our tremendous volunteers,
thank you for your continued commitment.