At its annual meeting this week, Canadas top mutual fund trade organization will talk about the toughest topic in the industry trading abuses The Toronto Star reports.
The Investment Funds Institute of Canada kicked off Tuesday night with a cocktail reception, but is continuing in a far less jovial atmosphere. Part of the festivities will include a visit from the Ontario Securities Commission, a visit in which the agency will brief the industry on its investigation into trading abuses. Another session will tell companies how to run a fund company during a crisis.
Problems with improper trading have hit Canada just as they hit the United States though not as hard yet and it was just last week that the OSC announced market timing investigations at AGF Management, AIC Ltd., CI Fund Management and Investors Group.
Perhaps the most compelling aspect of the meeting, which is taking place at the Metro Toronto Convention Centre, will be when polling expert Bruce MacLellan addresses the group on results of his latest poll, which asked Canadian investors what they thought of mutual funds.