Higher standards eyed for financial advisers

Canadian securities regulators are weighing the pros and cons of imposing a stricter fiduciary or “best-interest” standard on financial advisers who provide advice to retail clients.

Investor rights advocates say advisers should be held to a higher standard of care, similar to the fiduciary duty of a company executive or lawyer – and note that other jurisdictions, including the United States, are moving in this direction.

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