Chair
Canadian Securities Administrators
Louis Morisset has served as president and CEO of Quebec’s Autorité des marchés financiers since July 2013 and was named chair of the CSA in 2015. In 2019, Morisset’s term was renewed, extending his tenure as the head of the CSA through 2021. As Canada’s primary securities regulator, the CSA plays a vital role in shaping the investment landscape. In December 2019, the organization announced a landmark decision to ban deferred sales charges, which was adopted by every province except Ontario. The CSA also announced that paying trailer fees to discount brokers will be outlawed, with Ontario in agreement.
“Upfront sales commissions create conflicts of interest and impose liquidity constraints that harm investors,” Morisset said at the time. “With ample evidence of investor harm, especially for the most financially vulnerable investors, and no evidence of any benefits, we see no reason to preserve the DSC option.”
