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IFIC responds to CSA Regulatory Burden Reduction Initiatives

CSA proposals will significantly reduce costs, benefiting Canadian investors

TORONTO, Sept. 12, 2019 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today welcomed the Canadian Securities Administrators’ (CSA) plan to implement specific initiatives that seek to reduce the regulatory burden on investment funds and their managers.

“The Canadian investment funds industry applauds the CSA’s efforts to remove unnecessary and duplicative requirements, processes and approvals that do not deliver any benefits to regulators, to the industry, or to investors,” said Paul C. Bourque, President and CEO, IFIC.  “IFIC is pleased that the recommendations the investment funds industry provided were closely considered by the CSA and determined to be helpful to achieving the objective of reducing regulatory burden, while maintaining investor protection.”

IFIC will review the package of proposed rule amendments issued today for comment, and will prepare a detailed submission prior to the December 11 deadline.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 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:

Carolyn Quick
Vice President, Communications and Public Affairs
The Investment Funds Institute of Canada
cquick@ific.ca 
416-309-2306