TORONTO, June 27, 2022 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today made its submission to the Canadian Securities Administrators (CSA) on CSA Application for Recognition of New Self-Regulatory Organization Framework.
“IFIC appreciates the hard work that the CSA and the SROs have dedicated to developing the framework for the New SRO, which the industry fully supports,” said Paul Bourque, President and CEO, IFIC. “Our comments focus on details of the proposal that could diminish the success of the transition if all of the impacts are not fully considered.”
In its submission, IFIC made several recommendations, including:
Other recommendations related to New SRO fees, new rule development, and oversight of the New SRO. IFIC also reiterated its strong support for the value of keeping the “self” in self-regulation, noting that governance proposals to strengthen accountability must strike a balance with industry self-regulatory authority.
The Conseil des fonds d’investissement du Québec has also made a submission to the Autorité des marchés financiers on Québec-specific considerations.
About IFIC
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.
For more information, please contact:
Pira Kumarasamy
Senior Manager, Communications and Public Affairs
[email protected]
416-309-2317