Vanguard Comments On Discussion Paper

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    Vanguard Investments Canada Inc. supports the fee-based model for advisors, as this model provides investors full transparency in terms of fees, it says in a letter to the Ontario Securities Commission. Commenting on a CSA discussion paper on mutual funds, it says, as with any profession, advisors should be paid a fair price for the services that they provide. That fee should be transparent and the service expectations understood. It recommends that CSA consider other options to allow investors greater access to low cost investments such as a restricted form of registration for MFDA representatives to trade in ETFs and cross-listing of ETFs from jurisdictions such as the United States to allow Canadians to better take advantage of the size, scale, and low cost benefits of listed ETFs.