TORONTO, May 2, 2013 /CNW/ - The Canadian Securities Administrators
(CSA) announced today that the Ontario Securities Commission (OSC) will
host two roundtables to further explore and discuss the issues identified in CSA
Consultation Paper 33-403 - The Standard of Conduct for Advisers and Dealers: Exploring the
Appropriateness of Introducing a Statutory Best Interest Duty When
Advice is Provided to Retail Clients.
The roundtables are part of the CSA's ongoing effort to explore the
potential benefits and competing considerations of introducing a
statutory fiduciary, or 'best interest', standard for advisers and
dealers when they provide advice to retail clients. The Consultation
Paper, which was published October 25, 2012, examines whether a
statutory best interest standard should be adopted, whether another
policy solution would be more effective or whether the current Canadian
standard of conduct framework is adequate.
The first of two roundtables will be held on June 18, 2013, from 9 a.m.
to 12 p.m. and is geared toward investors and investor organizations.
The second roundtable will be held on June 25, 2013, from 9 a.m. to 12
p.m. and is geared toward advisers, dealers and industry organizations.
Both roundtables will take place on the 22nd floor of the OSC's offices
located at 20 Queen Street West in Toronto, Ontario.
Interested parties are asked to send an e-mail to firstname.lastname@example.org by Monday, May 13, 2013. Further details, including the final agenda,
will be provided closer to the event dates.
A third, follow-up session is being planned for a date in July and both
investors and industry (and each of their related organizations) will
be invited to attend. This session will focus the dialogue, building
on the previous roundtables, with a panel discussion designed to
reflect the diversity of views on this issue. Additional details on
this session will be published at a later date.
Other jurisdictions of the CSA may also host roundtables. The CSA, the
council of the securities regulators of Canada's provinces and
territories, co-ordinates and harmonizes regulation for the Canadian
SOURCE: Canadian Securities Administrators
For further information:
Ontario Securities Commission