TORONTO, Aug. 03, 2021 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today welcomes the determination by the Canadian Securities Administrators (CSA) to proceed with the creation of a new national self-regulatory organization (SRO) through the merger of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).

“A single national SRO will deliver significant benefits to investors by enhancing the investor experience, reducing investor confusion, and ultimately improving investor outcomes,” said Paul Bourque, President and CEO, IFIC. “The industry stands ready to assist with the efforts to successfully integrate the two organizations in a timely manner.”

IFIC intends to make a submission in response to the CSA’s Position Paper.

IFIC’s submission to the CSA Consultation Paper 25-402 - Consultation on the Self-Regulatory Organization (SRO) Framework is available on its website.

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, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information:

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
[email protected]
416-309-2317