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ARTICLE · 27 FEBRUARY 2014

"It’s About Time!" Ontario Bill To Regulate Financial Advisors

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"Well it’s about time!" That’s what Greg Pollock, the President and CEO of Advocis, The Financial Advisors Association of Canada, says about a proposed new bill to regulate financial advisors in Ontario.

CanadaFinance and Banking
Brian Koscak
Brian Koscak
"Well it's about time!"

That's what Greg Pollock, the President and CEO of Advocis, The Financial Advisors Association of Canada, says about a proposed new bill to regulate financial advisors in Ontario. Bill 157, proposed by Ontario Liberal MPP Rick Bartolucci, passed first reading on February 18, 2014. Bill 157 defines a "financial advisor" as a person who engages in the business of providing financial advice. "Financial advice" means advice on investment, financial risk management or financial risk mitigation matters that identifies a client's financial needs, risks or objectives and establishes strategies to address them.

Bill 157 sets out matters involving, among other things,

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