The investment fund sponsors and dealers have done too little for too long to figure out a meaningful, common sense way to be transparent with their clients. As a result, we’re generally in favour of a ban on embedded commissions on financial products. Moreover, clients deserve to not only see total costs after-the-fact (through regular reporting) but to receive this transparency before taking the plunge to engage an advisory firm. Our submission on Canadian Securities Administrators’ consultation paper on eliminating embedded commissions (81-408) expands on these ideas and details our feedback on regulators’ many specific questions.
