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Canada's proposed best interest duty for financial advisors faces provincial division and regulatory setbacks.
The Canadian Securities Administrators (CSA) propose new rules to strengthen client-advisor relationships, including a potential best interest duty, but face division among provinces over its adoption.
While 74% of Canadian financial advisors support the best interest standard, industry groups urge caution, calling for evaluation of existing reforms before new changes.
Ontario and New Brunswick back the standard for investor protection, but Alberta, Manitoba, Quebec, and British Columbia oppose it, favoring current targeted reforms.
The proposed national regulator, CCMR, faces setbacks including a court ruling against its structure and loss of support from investor advocates.
Public feedback on the reforms remains under review as of late September 2026.
El derecho de interés superior propuesto por Canadá para los asesores financieros se enfrenta a la división provincial y a reveses regulatorios.