Regulation like being in a hurricane, says Toronto advisor

Regulation like being in a hurricane, says Toronto advisor

5 Comments
  • Gdn 2014-02-18 3:17:22 PM
    I agree, the time I spend on all this is killing me because there is a belief that suddenly all bad people will become good by imposing more regulations?!? I'll be interested to know if anything changes for the good for the general public as a result. I, at this point, severally doubt it.
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  • Mike H. 2014-02-22 2:21:20 PM
    The first step in many frauds perpetrated on clients is to change the address and phone number on the books of the dealer to ones the crook controls. That's why all address and phone number changes need to be confirmed.
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  • Joseph Sask 2014-02-22 7:01:23 PM
    I want to go further. All the regulatory boards across Canada are getting paid to sit on those boards and develop policies, procedures and regulations to govern the Advisors. This is all being done in the name of " Good Governance ". The cost for these people to sit on the boards is being paid for by the investors, I believe. What is shocking is in an industry that is approxiamately $400 billion in value, where the average MER fee is 2.5% per year. That represends a staggering $10 billion per year fees that are being paid for by the investor, yet there is no, I repeat NO accountability or reportability of these fees to the investor.
    This alone is a crime of epic proportion. When is someone, anyone going step forward and fire every board member for this crime. Or do we all Advisors have to wait until 31-103 comes into effect in 2016.
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