July 18, 2017 13:30
If the CSA abolished the commissions built-in, it will be up to the community advisors to see to manage the transition, » says the great leader of the IIROC.
If the canadian securities administrators (CSA) is following up the project of abolition of the commissions integrated, it will be up to the community advisors to see to manage the transition, » says the great leader of thecanadian Organization of regulation of the securities trade (IIROC).
Andrew Kriegler has also stated in a conference recently organized by thecanadian Association of securities trading (IIAC), that if the abolition of commissions as part of does not have unanimous support as such, it raises no concerns excessive among the advisers. However, if their prohibition is a reality, everyone must do their part.
«According to the informal comments that I received from front-line advisors across the country, the planned change does not raise a concern as large as what one might see in some other places,» said Mr. Kriegler. I wouldn’t say that nobody cares ; there were definitely concerns. I believe, however, that if the thing is done, it will be necessary to focus on the management of the transition, given that we are talking a major change, of great importance… We would not do and wrong to anyone without wanting to. «
Theinvestment funds Institute of Canada (IFIC) has been at the forefront to indicate to regulatory authorities that the abolition of commissions as part of will have long-term negative impact on the ability to plan and save for Canadians, leaving them with far fewer assets to put at the service of their retirement. The president and ceo of the IFIC, Paul Bourque, has repeatedly said that investors are likely to get less for financial advice if they have to pay in advance.
A point of view paternalistic
Gold, Andrew Kriegler rejects the arguments of those who maintain that the abolition of the commissions integrated penalise small investors.