It seems there are more and more “Financial advisors” who believe it is correct to collapse RRSP’s and put funds into TFSA - and of course always into “mutual funds”. These funds are not covered under the CDI and so if the funds go off the board you have lost everything. Even RRSP’s in mutual are not covered. Investors need to be aware and so take proper risk controls.
By Bernice on July 12, 2018
No not more regulation but more education
In these matters would help
An organization would help as well
By Liz Swark on July 11, 2018
No, there are enough regulations. Adding more is not the answer for preventing abuses.
By Lori Steeves on July 11, 2018
Wonder what happened to the rating system for tax firms CRA stated they were implementing. Although this was suggested years ago it would make more sense than wasting time on firms that prove they are protecting their clients by being compliant.
By Pat Morton on July 11, 2018
More regulation does little more than increase the requirement for regulators. What would be more effective is more auditors with the power to call spot audits - no warning to advisers. While this would be an inconvenience to the honest people, it would only bother the dishonest.
By Ron Schreuders on July 08, 2018
No. I would not like to see more regulation.
By Sandra Gibbs on July 04, 2018
I thing we need to know who is minding the regulators. I have a story to tell about that as well and the effects that can occur when the regulators have no/little oversight. Who is minding the regulators
By Shirley Hill on July 04, 2018
It’s not regulation that we require but a professional tax body of tax preparers recognized by the federal government. There is probably more than enough people who have taken the KB / HR Block tax courses to form such a professional association.
By James Finlay on July 04, 2018
Regulations only keep them in business. If you let the free market do its work Bad advisors will end up having few clients and the good ones will soon have more than they can handle.
By S. Merten on July 04, 2018
In a word no. Yes there are bad characters out there. However more regulation doesn’t stop them and just makes life harder for the honest advisors AND their clients. Here’s a novel thought. Throw the book at people who have abused their position of trust.
By Karl Hillyard on July 04, 2018