Discount brokers no longer need to check suitability of trades

Article Abstract:

Canada has eliminated regulations that require discount brokerage companies to match trades with the individual goals of clients. Industry analysts said that the rules change may undermine security in the industry.

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Three discount brokers seek okay to drop suitability checks

Article Abstract:

Discount brokers HSBC InvestDirect Canada, Royal Bank Action Direct, and Versus Technologies request that the Ontario Securities Commission waive their requirement to make manual suitability checks on every trade order by every client.

Securities Brokerage, Stockbrokers, HSBC Holdings PLC, Securities law, Royal Bank of Canada, RY, E*TRADE Technologies Corp.

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TD Waterhouse blames slow regulators for service delays

Article Abstract:

New York, NY-based TD Waterhouse Group Inc., which in Canada is led by president John See, has criticized securities regulators for service delays for its online discount brokerage operations. TD Waterhouse says that regulators must approve each trade under new securities rules.

United States, Services information, TD Waterhouse Group Inc., TWE

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