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FEBRUARY 2020
24 PAGES
at OSC, say investor
advocates
Maureen Jensen’s departure from the OSC comes 10 months earlier than expected
BY JAMES LANGTON
the surprise announcement that maureen jensen will
step down from her post as chair and CEO of the Ontario Securities Commission (OSC) in mid-April isn’t just the resignation of a faceless bureaucrat. Investment industry stakeholders say Jensen’s departure represents the loss of a champion for retail investors and an advocate for industry innovation.
Retired securities lawyer and former OSC commissioner Glorianne
CANADA’S NEWS SOURCE FOR FINANCIAL PROFESSIONALS
SECURITIES COMMISSIONS
INSIDE
NEWS
STEPPING DOWN Investor advocates laud departing OSC chair Maureen Jensen’s accomplishments. PG. 1
BUDGET The Liberal minority government’s 2020 budget will likely address election promises. PG. 1
STEADY RATES The Bank of Canada and the Fed appear ready to stand pat in 2020. PG. 6
PROFIT SURVEY Financial services companies are feeling the effects of slower economic growth. PG. 9
BYB: TECHNOLOGY
GOING DIGITAL New technology can help firms meet compliance and client reporting obligations. PG. 14
UPGRADING YOUR TECH With so many products vying for your attention, where should you invest your technology dollar? PG. 16
INVESTING There are many opportunities for clients interested in investing in the tech sector. PG. 18
SAFE AND HEALTHY Help your senior clients stay healthy with these digital tools. PG. 20
FOCUS ON PRODUCTS
SECTOR WATCH Managers of bond funds are cautiously optimistic about the sector. PG. 21
INSIGHT
EDITORIAL The next head of the OSC must provide a steady hand. PG. 22
OTTAWA Both major political parties are due for a rebrand after the last election. PG. 22
LIVE LONG AND PROSPER
©2019 JOSEPH COUGHLIN
Joseph Coughlin, a U.S.-based expert on aging, consults with CI Financial Corp. on retirement planning. He says financial advisors should also be “longevity advisors.” (See story on page 12.)
“Big shoes to fill”
> TURN TO NEXT / PAGE 4 REGULATION
MFDA offers CE update
BY JAMES LANGTON
budget
BY RUDY MEZZETTA
the federal liberals hold
a strong hand as they prepare to table the federal budget, the first of the new minority government, experts suggest.
The government will focus on implementing campaign prom- ises in its 2020 budget — and the Liberals won’t have to worry about making major concessions
> TURN TO UNLIKELY / PAGE 4
TAXES
Liberals ready to fulfil promises in 2020
the mutual fund dealers
Association of Canada (MFDA) has released a bulletin to the investment industry detailing its agenda for the coming year. The document focuses on several issues, such as referral arrange- ments, new continuing education (CE) requirements and the pros- pect of a third phase of the client- relationship model (CRM3), as well as longstanding concerns, such as the state of industry cybersecurity.
This bulletin follows a stated commitment from provin- cial securities regulators to
> TURN TO MFDA / PAGE 6
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