Time to get the mega-size bottle of aspirin. Oh yeah, and don't forget the TUMS, or whatever they use for antacid up north.
The mutual fund industry has four more reasons to worry about doing business in Canada, according to The Toronto Star
The Canadian government wants to ban "character conversion" funds, i.e. those that use derivatives to change highly taxable interest income in to low-tax capital gains.
Canada's securities regulators are ready to go Medieval on financial advisors. For example, the newspaper notes that regulators want "ant statements to clearly set out in dollar terms the annual cost of owning a mutual fund, including all hidden fees. The watchdogs are even toying with the idea of requiring advisors to give greater priority to a client’s best interests than to their own commissions."
Critics are getting REALLY vocal on the subject of high management fees.
ETFs are taking away flows like bandits.
In order to gauge the size of your future aspirin and antacid investments, read more in The Star.
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