Canadian Securities Regulators Announce Panel Discussion on Statutory 'Best Interest' Duty

TORONTO, June 12, 2013 /CNW/ - The Canadian Securities Administrators (CSA) announced today that the Ontario Securities Commission (OSC) will host a panel discussion on July 23, 2013 to focus the dialogue on 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 panel discussion is 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 CSA has already scheduled roundtables on June 18, 2013 (geared toward investors), and on June 25, 2013 (geared towards industry).

The panel discussion on July 23, 2013, from 10 a.m. to 12 p.m. will focus the dialogue, building on the roundtables in June, with a panel discussion designed to reflect the diversity of views on this issue. Panelists will be selected to reflect the various perspectives on a 'best interest' standard. The session will take place on the 22nd floor of the OSC's offices located at 20 Queen Street West in Toronto, Ontario. Further details, including the final agenda, will be provided closer to the event date.

Those interested in observing the panel discussion are asked to send an e-mail to [email protected] by Monday, July 8, 2013.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

SOURCE: Canadian Securities Administrators