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Globe Advisor reporter Deanne Gage spoke with Huston Loke, incoming chair of the CCIR, who is also executive vice president of market conduct at the Financial Services Regulatory Authority of Ontario , about these organizations’ extensive to-do lists.The first one happened earlier this month. As of June 1, we announced a ban on deferred sales charges on new individual segregated fund contracts.
This information, which we call total cost reporting, will be available to all investors, whether they hold segregated funds or the more traditional mutual funds. Investors generally need more information about what they’re paying. That makes them more empowered, [and] helps them make better decisions.We have received some concern that this project imposes considerable costs on the industry. At the back end, someone has to re-engineer the systems.
Source: News Formal (newsformal.com)
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