TORONTO, Dec. 17 /CNW/ - The Investment Industry Association of Canada
(IIAC) congratulates the Investment Dealers Association of Canada (IDA) and
Market Regulation Services Inc. (RS) on the merger of the two organizations.
The new regulatory body, "New Regco", will enhance the quality and
effectiveness of Canada's self-regulatory system, ensuring strong capital
"The merger will simplify and streamline self-regulation, by eliminating
overlap and duplication, and rationalizing the audit and compliance process.
This outcome will reduce costs for investors and enhance regulatory
efficiencies," said Ian Russell, President and Chief Executive Officer, IIAC.
The investment industry will benefit from the new organization's broader
mandate which includes trading, products and markets. This will allow for
appropriate regulatory responses on industry changes, the adoption of uniform
principles of regulation and will reinforce the distinction between regulatory
and advocacy functions.
The Investment Industry Association of Canada (IIAC), formerly the
industry association arm of the Investment Dealers Association of Canada
(IDA), advances the position of the Canadian investment industry on regulatory
and public policy issues. As the professional association for the industry,
the Investment Industry Association 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, Public Affairs Consultant, Tel.
(416) 687-5478, firstname.lastname@example.org