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ARTICLE · 05 DECEMBER 2018

Conflicts Of Interest Remain A Regulatory Focus

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Regulators continue to focus on real and perceived conflicts of interest, whether as between individual advisers and their clients, or as between registered portfolio managers and affiliates.

CanadaFinance and Banking
Gillian Dingle
Gillian Dingle
John Fabello
John Fabello
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Regulators continue to focus on real and perceived conflicts of interest, whether as between individual advisers and their clients, or as between registered portfolio managers and affiliates.

Key Facts

Questrade Wealth Management Inc. is a registered investment fund manager, exempt market dealer and portfolio manager. It had discretionary authority over $60 million in client accounts. These accounts were sub-advised by a U.S.-based registered sub-advisor. Questrade also acted as the trustee, manager and portfolio manager of eight exchange-traded funds (ETFs).

In July 2017, Questrade entered into a variety of strategic agreements with WisdomTree, a registered investment fund manager and exempt market dealer. As part of the series of agreements, WisdomTree became the IFM and manager of Questrade's eight ETFs. Prior to the execution of the agreements, both parties agreed WisdomTree would discuss with the sub-advisor the potential purchase of the new WisdomTree ETFs

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