Industry

What IIROC found in its conflict of interest rule review

IIROC, the self-regulatory body for securities dealers, reviewed its Rule 42 last year dealing with conflicts of interest, uncovering some problems related to disclosures and compensation. IIROC surveyed firms in June 2016 to assess the effectiveness of the new conflict of interest rule. Ian Russell, head of IIAC, the industry advocacy group for IIROC members, […]

By Staff |June 30, 2017

2 min read

IIROC guidance on managing conflicts poses challenges for dealers

01 IIROC compensation review In April, IIROC published guidance on managing compensation-related conflicts after reviewing 20 firms. The review identified three concerns: The guidance, along with CSA’s proposal on banning embedded commissions, indicates a trend “toward greater clarity, greater and better disclosure, and fewer conflicts,” says John Fabello, a partner at Torys in Toronto. Though […]

By Michelle Schriver |June 30, 2017

6 min read

OSC proposes new rules for raising capital outside Ontario

The OSC is seeking comments on proposed new rules for issuers looking to raise capital outside of Ontario. On Thursday the Ontario securities regulator published revised OSC Rule 72-503 Distributions Outside Canada, and proposed Companion Policy 72-503 Distributions Outside Canada. “We have made certain revisions to the rule since its initial publication, including removing resale […]

By Staff |June 29, 2017

1 min read

Updated: Most Canadians fail financial literacy test

Editor’s note: This article has been updated with more information. Canadians appear to be less financially literate than they think they are, according to a survey commissioned by LowestRates.ca. When asked 15 true-or-false questions to test their knowledge, most respondents were unclear about terminology concerning mortgages, auto insurance or TFSAs. Fifty-seven per cent of respondents […]

By Staff |June 29, 2017

3 min read