Saturday, January 26, 2013
MUTUAL FUND FEES
Mutual fund fees are significantly higher than those in the United States.
The Ontario Securities Commission called for comments.
CSA Discussion Paper and Request for Comment 81-407 Mutual Fund
Fees
http://www.osc.gov.on.ca/documents/en/Securities-Category8/csa_2012123_81-407_rfc-mutual-fund-fees.pdf
The call for comments was 50 pages in length.
My comment and solution was 1 page. It follows
Comment 81-407 Mutual Fund Fees
Date:
Fri, 14 Dec 2012 09:41:30 -0800
To:
comments@osc.gov.on.ca
Hi Secretary OSC Ontario Securities Commission.
Please consider the advantages of free trade.
Open the market in Canada to funds from other jurisdictions especially
the relatively low cost US.
Competition is wonderful in reducing costs.
Yes Canadian regulators will object. After all one of their main jobs is
to keep their jobs. Note in particular the opposition to a single
regulator in Canada. It is indicative of more interest in job retention
than overall effectiveness and efficiency.
Simply allow free trade with other jurisdictions with adequate
oversight e.g. USA.
Perhaps Canadian regulators could monitor the level of oversight in
other jurisdictions and gradually expand the list of "free trade
jurisdictions.
Sincerely
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