Canadian Securities Regulators Provide Update on Consultation on Option of Discontinuing Embedded Commissions

TORONTO, Dec. 15, 2016 /CNW/ - On June 29, 2016, the Canadian Securities Administrators (CSA) published CSA Staff Notice 81-327 Next Steps in the CSA's Examination of Mutual Fund Fees, which indicated an intention to publish a consultation paper in 2016 that would explore the option of discontinuing embedded commissions and the potential impacts of such a change on Canadian investors and market participants.

We have received feedback from stakeholders that it would be beneficial to review the consultation paper following the holiday season, so they have time to adequately review and prepare comments. The CSA is committed to having a productive consultation process and receiving specific input on the issues raised in the consultation paper. We therefore intend to publish the consultation paper on January 10, 2017.

The consultation paper will be published for a 150-day comment period. The longer than normal consultation period is intended to allow for broad consultation.

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

Kristen Rose, Ontario Securities Commission, 416-593-2336; Alison Walker, British Columbia Securities Commission, 604-899-6713; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; David Harrison, Nova Scotia Securities Commission, 902-424-8586; John O'Brien, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4909; Jeff Mason, Nunavut Securities Office, 867-975-6591; Shannon McMillan, Financial and Consumer Affairs Authority of Saskatchewan, 306-798-4160; Nicole Tuncay, Alberta Securities Commission, 403-297-4008; Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Andrew Nicholson, Financial and Consumer Services Commission, New Brunswick, 506-658-3021; Janice Callbeck, Office of the Superintendent of Securities, P.E.I., 902-368-6288; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305