Live from the Compliance and Risk Management summit

Advisor.ca is at the 14th annual Compliance and Risk Management summit in Toronto.

#Compliance – MF Global proves the fixes put in place since 2008 aren’t a sufficient failsafe to guard from global financial crises

#Compliance – Average SEC examiner only looks at 3 firms a year, down from 5. And 38 percent of US advisory firms have never been examined

#Compliance – FINRA is a corrupt, bloated bureaucracy and it’s not a viable option to oversee investment advisors

#Compliance – Dodd Frank told the SEC to study its inability to inspect advisory firms, instead of funding inspection staff

#Compliance – new proposals to create a US self regulator for IAs is messing with bright line guidance established many years ago

#Compliance – mutual funds are using fund facts, but they also use their own disclosures that they feel are better for investors

#Compliance – there is no plan to create a fund facts type document for exempt products or ETFs at the moment

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.

Ontario DB plan solvency ratios remained stable in Q4