Opinion: Smarter Supervision, Not Less Regulation
A recent report by the C.D. Howe Institute suggests that reducing regulation could help advisors serve mass market clients by streamlining oversight and eliminating unnecessary rules.
However, the real issue is not over-regulation, but rather inefficient regulation. The solution lies in rebuilding the enforcement of regulations, rather than abandoning them altogether.
Regulations exist to deter misconduct, reduce information asymmetries and preserve trust.
Supervisory technology (suptech) offers a path forward, allowing for reduced costs, eliminated duplication, and improved consumer protection simultaneously.
Canada should focus on embracing this technology, rather than retreating into deregulation.
Author's summary: Smarter supervision is key to efficient regulation.
- Regulations deter misconduct and preserve trust
- Supervisory technology can reduce costs and improve consumer protection
- Canada should prioritize smarter supervision over deregulation
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