Illegal in US, Standard Practice daily in Canada

NASD fines RBC in the United States $1.7 mil for mutual fund mishandling. Article from June 9, 2005 Financial Post describes the fine. The NASD web site is a wealth of information on investment abuses in the United States. Unfortunately, Canada's regulatory system still allows almost any and all abusive mutual fund practice to continue unchecked. I still do not understand how this occurs, but I am sure the class action lawyers will figure it out and eventually correct it in Canada. It is, after all, a multi billion dollar damage to clients if you look carefully at double dipping, triple dipping, churning DSC funds, moving clients to proprietary and higher comp funds, adding advisor fees to inactive accounts, prescribing the highest comp fund under the guise of "professional advice", etc., etc., etc.