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ARTICLE · 14 OCTOBER 2015

CSA Provides Guidance On Canadian "Robo-Advisers"

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

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The term "robo-adviser" has become synonymous with a provider of automated, low-cost, investment advisory services through user-friendly web-based (and increasingly, mobile) channels.

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Kevin Rusli
Kevin Rusli
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The term "robo-adviser" has become synonymous with a provider of automated, low-cost, investment advisory services through user-friendly web-based (and increasingly, mobile) channels. These digital advice platforms are intended to service the future generation of tech-savvy retail investors, and with its gaining popularity, has become a positive disruptor in the asset management community. Its surge toward mass adoption (particularly in the U.S.) has made it a prime example of how industry can occasionally outpace regulation. 

On September 24, 2015, the Canadian Securities Administrators (CSA) published CSA Staff Notice 31-342: Guidance for Portfolio Managers Regarding Online Advice (CSA Notice 31-342), which provides guidance regarding how regulators expect the online advice industry will grow. 

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