The Globe and Mail reports in its Tuesday edition that the Canadian Securities Administrators (CSA) proposed changes on Sept. 13 that would prohibit fees known as deferred sales charges (DSCs). The Globe's Clare O'Hara writes that shortly thereafter, Ontario Finance Minister Vic Fedeli released a statement opposing the recommendations, throwing into doubt any regulatory action that might follow a six-year study that included public consultations, research papers and support from all provincial regulators. DSCs charge clients as much as 6 per cent to cash out their mutual funds, a fee that typically falls by one percentage point each year, down to 0 per cent, after five to seven years. Some in the industry believe DSC funds help smaller investors gain access to financial advice, as the model does not require an upfront payment from clients. It may also prevent investors from making early withdrawals from their retirement savings. Many in the investment community are dumbfounded as to why the provincial government opposes a more transparent environment for retail investors. CARP, an advocacy association for older Canadians, wrote to Mr. Fedeli, asking the government to reconsider and endorse the proposed recommendations.