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#1 24-01-2020 12:02:33

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2886
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Most Canadian traders are in favour of regulatory measures

Most Canadian traders are in favour of regulatory measures


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Tighter regulation has been a double-edged sword in the financial services sector over the last 12 months.

However, in Canada, a majority of traders seem to favour this trend, according to a recent study by Canada's Investment Industry Regulatory Organisation (IIROC).

Brokers have indeed been forced to adapt their activities to a more regulated environment.

Nowhere is this more true than in both Europe and Australia, which have seen several brokers move offshore.

In Canada, this has been much less pronounced, as the North American markets are already among the most regulated in the world. The safety of Canadian brokers - due to regulations - is however considered to be positive, at least for local traders.

According to the study, 88% of active traders and 66% of potential traders believe it is important that investment advice comes from a regulated entity.

According to Kathy Angle, a VP at IIROC, "It is encouraging to see that most Canadian traders are confident that our investment sector is properly regulated, although it is disturbing that those who are not yet trading are much less confident."

IIROC, in collaboration with The Strategic Counsel, has successfully interviewed around 1,500 current and potential traders.

The survey also found that over 76% of active traders are confident that Canada's forex market is properly regulated while 49% of potential traders are confident.

Furthermore, only 33% of active traders and 45% of potential traders believe that online advice is less well protected by regulations than advice received from actual individuals.

"The more we understand how Canadians view trading regulations, the better we can respond to concerns, by helping traders gain better access to the advice they need to achieve their financial goals." says Angle.

Of all the demographics studied, older traders, or those over the age of 66, were the least likely (9%) to access an online automated trading tool or service to obtain information or advice.

The study monitored a wide range of indicators among Canadian traders. IIROC, on the other hand, regulates the skills, business and financial conduct of more than 28,500 employees in more than 169 investment companies across the country.

"IIROC wants to make its regulations more flexible and proportionate to meet the changing financial needs and expectations of Canadian traders - while ensuring that they remain protected, however they choose to seek advice and consume financial services", reiterates Andrew J. Kriegler, President of IIROC in a recent statement.

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