The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, S ep te m be r 30 ,2 02 1 | 8 ABOUT US This newspaper, published every Thursday, is a division of the Metroland Media Group Ltd., a wholly-owned subsidiary of Torstar Corporation. The Metroland family of newspapers is comprised of more than 70 community publications across Ontario. This newspaper is a member of the National NewsMedia Council. Complainants are urged to bring their concerns to the attention of the newspaper and, if not satisfied, write The National NewsMedia Council, Suite 200, 890 Yonge St., Toronto, ON M4W 2H2. Phone: 416-340-1981 Web: www.mediacouncil.ca insidehalton@metroland.com facebook.com/OakvilleBeav @OakvilleBeaver WHO WE ARE VP, Regional Publisher Kelly Montague Director of Content Lee Ann Waterman Regional General Manager Jason Pehora Regional Managing Editor Catherine O'Hara Managing Editor Karen Miceli Director of Distribution Charlene Hall Circulation Manager Kim Mossman Director of Production Mark Dills Regional Production Manager Manny Garcia Directors of Advertising Cindi Campbell and Ryan Maraj CONTACT US Oakville Beaver 901 Guelph Line Burlington, ON L7R 3N8 Phone: 905-845-3824 Classifieds: 1-800-263-6480 Advertising: 289-293-0620 Delivery For all delivery inquiries, please e-mail kmossman@metroland.com or call 905-631-6095. Letters to the editor Send letters to insidehalton@metroland.com. All letters must be fewer than 320 words and include your name and telephone number for verification purposes. We reserve the right to edit, condense or reject letters. Published letters will appear in print and/or online at insidehalton.com OPINION TO LEARN HOW TO SUBMIT YOUR OWN CONTENT VISIT INSIDEHALTON.COM New reforms designed to provide better protection of individual investors have hit a major speed bump. Starting at the end of 2021, financial advisers are required to have a better un- derstanding of the invest- ment products they sell. This includes understand- ing alternative investment products that might be more suitable for a client. The proposed reforms have come from the Capital Markets Modernization Taskforce. It reported that 95 per cent of mutual funds sold by bank branches are proprietary products. This creates a conflict of interest regarding remu- neration. It is more profit- able for a bank to sell its own mutual funds than that of a competitor. In a bold move, three banks announced they will no longer sell competitors' mutual funds at their branches. These includes RBC, TD and CIBC. The banks could argue that according to the task force report there are 60,000 different investment prod- ucts currently sold through bank branches and a require- ment to fully understand that many is unmanageable. If the goal is to reduce conflict of interest, this can easily be done. Restrict banks from selling prepara- tory products. That elimi- nates the conflict of interest. Also the standard of care between an adviser and cli- ent could be elevated to fidu- ciary. That requires the cli- ent's interest be put ahead of the adviser. Peter Watson is regis- tered with Aligned Capital Partners Inc. (ACPI) to provide investment advice. Investment products are provided by ACPI. ACPI is a member of the Investment Industry Regulatory Orga- nization of Canada. The opinions expressed are those of the author and not neces- sarily those of ACPI. Wat- son provides wealth man- agement services through Watson Investments. He can be reached at www.wat- soninvestments.com. BANKS PUSH BACK ON INVESTOR PROTECTION REFORM A hummingbird visits a backyard in the Bronte area. Do you have a great local photo you'd like to share? Send it to sleblanc@metroland.com, along with a brief description. Victor Turczynski photo SNAPSHOT BANKS AND REGULATORS AT ODDS OVER PROPOSED INVESTMENT RULES, WRITES PETER WATSON PETER WATSON Column It's about trust. Our rela- tionship with our readers is built on transparency, hon- esty and integrity. As such, we have launched a trust initiative to tell you who we are and how and why we do what we do. This column is part of that project. Today is an important step in Canada's journey to healing. The print edition of this newspaper hits the streets Sept. 30, the first National Day for Truth and Recon- ciliation. The day is meant to ho- nour "the lost children and survivors of residential schools, their families and communities. Public com- memoration of the tragic and painful history and on- going impacts of residen- tial schools is a vital com- ponent of the reconcilia- tion process," according to Heritage Canada. As a media organiza- tion, we have taken a hard look at ourselves in terms of our relationship with and coverage of Indige- nous communities in Onta- rio and have found our- selves wanting. We commit to doing better. We have formed an In- digenous Awareness and Action committee, made up of journalists, editors and community members, committed to educating its members and our col- leagues, and through this our communities on the past, present and future of Ontario's Indigenous Peo- ples. We are aligning this work with the Truth and Reconciliation Commis- sion's calls to action, par- ticularly those dealing with media. On Action 84, we com- mit to work toward being properly reflective of the diverse cultures, languag- es and perspectives of Ab- original Peoples by in- creasing relevant news coverage on issues of con- cern to Indigenous Peoples and all Canadians, includ- ing the history and legacy of residential schools and the reconciliation process. On Action 85, we plan to inform and educate the Ca- nadian public, and work to connect Aboriginal and non-Aboriginal Canadi- ans. With newsrooms across Ontario, we are uniquely positioned to do this work. On Action 86, we com- mit to educating Metro- land journalists on the his- tory of Aboriginal Peoples, including the history and legacy of residential schools, the United Na- tions Declaration on the Rights of Indigenous Peo- ples, Treaties and Aborigi- nal rights, Indigenous law, and Aboriginal-Crown re- lations. What does this mean for you, the reader? Expect to see more sto- ries written from a more informed perspective from our journalists, and to hear the voices of Ontario's In- digenous community as we amplify them in our news- papers and on our web- sites. Pamela Steel is the managing editor for Mus- koka, Almaguin, Parry Sound and North Bay newspapers and websites. She is also the chair of Metroland's Indigenous Awareness and Action committee. She can be reached at psteel@met- rolandnorthmedia.com. THIS IS A DAY OF MOURNING WE COMMIT TO DOING BETTER, SAYS EDITOR PAMELA STEEL PAMELA STEEL Column