“Report underscores fund dealer conflict of interest”, by Tim Wilbur, Lexpert Magazine
Lexpert Magazine quotes Montréal partner François Brais in an article about lawyers advising mutual funds dealers to prepare for more regulatory changes in the wake of a report commissioned by Canada’s securities regulators.
Many in the mutual fund industry also claim that banning trailer fees would have a negative impact on the affordability of financial advice for lower-income consumers. “The UK and Australia have banned trailers, two or three years ago, [and the] preliminary conclusion is that less wealthy people have less access to advice,” says François Brais of Fasken Martineau DuMoulin LLP. “Any regulatory scheme that reduces the access to advice is not good.”
