Canadian Securities Industry Supports Proposed Canadian Securities Regulatory Authority
TORONTO - The Investment Industry Association of Canada (IIAC), the Association representing the Canadian securities industry and its more than 200 member firms, supports the recently announced Canadian Securities Regulatory Authority (CSRA). The proposed Canadian securities regulatory regime, which has benefited from the Advisory Committee of Participating Provinces and Territories, will enable Canada to meet the challenges of securities regulation in highly integrated, innovative and dynamic global markets. The guiding principles of the Authority, its consolidated expertise and resources, enforcement measures and streamlined structure and accountability, will provide cost-effective and responsive regulation, strengthened market integrity and investor protection, and promote capital market liquidity.
The proposed Canadian regulatory regime builds on the strong reputation of Canadian capital markets and our financial institutions, encouraging global investors and issuers to participate in the Canadian marketplace. "The national regulatory regime will improve the efficiency and integrity of Canadian markets and enable Canada to capitalize on emerging opportunities in global markets," said Ian Russell, President and CEO, IIAC.
The proposed regulatory regime contemplates voluntary participation among the Canadian provinces. The IIAC and its member firms encourage all provinces and territories to join and contribute to the building of the Canadian Securities Regulatory Authority.
The Investment Industry Association of Canada (IIAC) advances the position of the Canadian investment industry on regulatory and public policy issues. As the professional association for the industry, IIAC has a mandate to promote efficient, fair and competitive capital markets for Canada while helping its member firms across the country succeed in the industry.