IIAC applauds the executive appointments to the Canadian Securities Transition Office



    TORONTO, June 22 /CNW/ - The Investment Industry Association of Canada
(IIAC) is pleased with today's announcement by the Minister of Finance,
announcing the launch of the Transition Office and the appointment of Doug
Hyndman as Chair and CEO and Bryan Davies as Vice Chair. The appointment of
these two experienced and respected professionals gives assurance that a
Canadian securities regulator will become a reality in the Canadian capital
markets.
    "The strong leadership and resources behind this effort, based on the
recommendations of the Expert Panel on Securities Regulation, will succeed
where similar efforts in the past have failed," said Ian Russell, President
and CEO, IIAC.
    The Transition Office will work closely with the provinces and
territories to develop a federal Securities Act and design a transition plan
for a single securities regulator. The IIAC has established a Steering
Committee, comprised of experienced executives representing IIAC firms from
across the country, to provide industry input to the Transition Office.
    Mr. Russell continued, "Our Steering Committee has a wealth of practical
experience from all aspects of the securities business in mainstream and
venture capital markets. We look forward to providing practical advice to the
Transition Office to build a single securities regulator for Canada that
reflects the regional dimension of our capital markets and is responsive to
all investors, issuers and other market participants."

    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.





For further information:

For further information: Katie O'Dell, Senior Public Affairs Consultant,
Tel. (416) 687-5478, Cell (416) 312-7275, kodell@iiac.ca

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Investment Industry Association of Canada (IIAC)

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