FAIR Canada recently submitted a comment letter to IIROC, supporting its initiative to be clearer about the meaning of registrants’ suitability obligations. In its submission, FAIR Canada noted that the suitability rules, as proposed by IIROC, although moving in a positive direction, need further clarification and do not provide sufficiently clear guidance to registrants or individual investors about suitability. More importantly, FAIR Canada continues to urge regulators to look beyond suitability and consider a framework in which registrants are required to put their clients’ best interests first.
Click here for the full FAIR Canada submission to IIROC.
