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 excessive regulation, but rather inefficient regulation. The solution lies in rebuilding the enforcement of regulations, not abandoning them.
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 adopt suptech to improve regulation, rather than opting for deregulation.
Author's summary: Smarter supervision is key to efficient regulation.
- Regulations protect consumers and preserve trust
- Supervisory technology can improve regulation efficiency
- Deregulation is not the solution to inefficient regulation
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