Here are the top reads on deals and financial services over the last 24 hours,
Investment companies can’t limit liability with clauses in contracts, IIROC says: Canada’s investment-industry regulator says firms must stop inserting clauses in their contracts with investors that limit their liability for losses – even in cases where the firm’s employees have broken rules and recommended unsuitable investments. Story (David Milstead and Clare O’Hara)
Mutual fund advisers will be required to complete continuing education to keep licence starting 2020: Mutual fund advisers will be required next year to complete continuing education credits in order to keep their licence, putting them on par with other certified professionals in the financial services industry as the sector looks to increase transparency. Story (Clare O’Hara)
Only 10 per cent of young Canadians picture a woman when they think of a CEO, survey says: A new survey examining young Canadians’ views on leadership says only 10 per cent picture a woman when they think of a chief executive officer. Story (The Canadian Press)
Here’s a perfect example of how U.S.-style competition on fees is alien to Canada: While U.S. online brokers slash stock-trading commissions to zero, a lone Canadian broker is adjusting its fees. Story (Rob Carrick)
U.S. Federal Reserve finalizes post-crisis rule easing for domestic, foreign banks: The U.S. Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic U.S. and foreign banks that were originally introduced following the 2007-2009 global financial crisis. Story (Reuters)
Regulators reject Qatari-backed Deutsche Bank board member, sources say: In a rare intervention, Deutsche Bank’s regulators are blocking a banker backed by its largest shareholder, Qatar, from a seat on the supervisory board because of a conflict of interest, according to two people with knowledge of the matter. Story (Reuters)
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