Consultation on Changes to Commission Rule

January 17, 2018


Have you heard that the CPA profession is considering amending the rule on the payment or receipt of commissions?

Currently, Rule 216 of the CPABC Code of Professional Conduct applies to public practice members only. CPABC is now considering proposals that will apply to all members providing professional services, including those who are not licensed for public practice. This could affect you if you are currently compensated on a commission basis by third parties, such as for referrals of insurance or investment products, or computer software/hardware. The proposals will require members to assess the self-interest threat, develop safeguards to mitigate the threat, and disclose the compensation to the client involved.

CPABC is holding a consultation session on January 17 to collect feedback from members in industry on proposals that could affect those members currently providing financial planning or consulting services for which they pay or receive commissions. Details of the session are as follows:

• Date: Wednesday, January 17, 2018
• Time: 10:30 a.m. to 12 noon. (Refreshments will be served)
• Location: CPABC office, 8th floor Harbour Centre, 555 West Hastings Street, Vancouver, BC

We want to hear from you, so we’re offering you an opportunity to participate in person or by video/teleconferencing. Please register online using this link by January 11, 2018.

If you have any questions about this session, please contact CPABC’s advisory team at ProfessionalAdvisory@bccpa.ca.

Posted in CPABC