The Financial Post reports in its Tuesday edition that the spectre of new rules creates more risk for Canada's wireless service providers, one analyst noted in light of the CRTC's review of the wireless code. The Post's Emily Jackson writes that the commission wrapped up a four-day hearing last week where it grilled providers on potential changes to the code best known for killing three-year cellphone contracts. "No decision has been issued by the commission, but we believe this review generates regulatory risk across the industry," Desjardins analyst Maher Yaghi wrote in a note to clients Monday. Given the "significant disruption" the first version of the code created, he wrote, the hearings were potentially important to a telecommunications industry that increasingly relies on wireless services to drive growth. Desjardins believes the most adverse change for the industry would be if the CRTC mandated bill segmentation. This would require providers to separate the amount charged for service from the amount charged for devices, which are usually subsidized over two years. Customers typically stay on their plans for a period after their two-year contract ends even though the device is technically paid off.