Investment Industry SRO Forum Submits Submission to CSA


TORONTO, March 31, 2021 (GLOBE NEWSWIRE) — The Securities Industry SRO Forum (Forum) today submitted its recommendations regarding self-regulation to the Canadian Securities Administrators (CSA).

The Forum was created in January 2021 and is made up of members of the boards of directors of the Investment Funds Institute of Canada, the Investment Industry Association of Canada and the Mutual Fund Dealers Federation. Although each organization submitted a submission to the CSA’s SRO Framework consultation in fall 2020, the investment industry continued to review the issue and aimed to provide a broad industry view on how to improve self-regulation through the consolidation of the two self-regulatory bodies. (SRO).

“The industry strongly believes that self-regulation is essential for Canadian capital markets and that investors will benefit from a single national SRO,” said Carol Lynde, Forum Co-Chair and President and CEO, Bridgehouse Asset Managers. “The Forum’s overarching goal in developing these recommendations is to improve the investor experience and strengthen investor protection.”

The recommendations of the Forum are high level, strategic and practical. They focus on investor access to advice and financial products and services, better investor protection, better governance, improved operational efficiency through streamlined regulation and reduced regulatory hurdles, as well as better regulation and more effective compliance monitoring. Ultimately, the Consolidated SRO will enable its members to provide a consistent and transparent experience for investors trying to access financial advice and a diverse range of financial products, without inefficiencies or unnecessary costs.

“It will be important for the SRO consolidation process to unfold as quickly as possible in order to preserve the continued stability of Canadian financial markets,” said Richard Rousseau, Forum Co-Chair and Vice President, Private Client Group, Quebec, Raymond James ltd. “In our view, the considerable strengths of the two current SROs should be exploited to the fullest for this purpose.”

The Forum’s submission is available on the websites of the three associations.

About the Investment Industry SRO Forum

The Investment Industry SRO Forum includes members of the boards of directors of the Investment Funds Institute of Canada (IFIC), the Investment Industry Association of Canada (IIAC) and the Federation of Mutual Fund Dealers (FMFD).

For more information please contact:

carolina fast
Vice President, Communications and Public Affairs, IFIC
[email protected]


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