TORONTO, Jan. 12 /CNW/ - The Investment Industry Association of Canada
(IIAC) commends the Expert Panel on Securities Regulation (the "Panel") on the
release of their Final Report and Recommendations. The investment industry
supports the Panel's recommendations to move towards more efficient and
effective securities regulation in Canada, through the development of a single
"The recent financial crisis demonstrates the need for a single
regulator," said Ian Russell, President and CEO, IIAC. "A single securities
regulator for Canada will facilitate cooperation among domestic and
international financial sector regulators to monitor market trends and
identify systemic risk. The single regulator will implement timely regulation
in response to market developments," Russell concluded.
The IIAC has been a strong advocate of principles-based and proportionate
regulation to reduce the regulatory burden. We are pleased that the Panel has
endorsed these approaches to regulation.
The IIAC would welcome the opportunity to assist in implementing the
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, Public Affairs Consultant, Tel.
(416) 687-5478, Cell (416) 312-7275, firstname.lastname@example.org