IIAC Supports Third-Party Expert Panel on Securities Regulation

    TORONTO, Feb. 21 /CNW/ - The Investment Industry Association of Canada
(IIAC) welcomes the announcement by the Federal Government appointing a
committee of experts to bring forward recommendations for a new securities
regulatory framework that will create a Canadian advantage in global capital
    "The Panel has a unique opportunity to design an efficient,
cost-effective and regionally responsive securities regulatory framework for
Canada", said Ian Russell, President and CEO, IIAC.
    The IIAC is encouraged that the expert panel will be focusing on the
principles-based approach to regulation which is premised on broad principles
underpinned by core rules. The IIAC also supports the consideration by the
Panel of an enhanced, coordinated approach to enforcement.
    The Panel's governance model should provide all regions with
appropriately weighted representation in the decision-making process, and that
no one jurisdiction has majority decision-making authority. The model should
also recognize the capital market expertise in particular regions, and locate
operational components related to those areas in such regions of the country.
    The IIAC is pleased with the broad experience and knowledge of the Panel
appointees. Mr. Russell concludes, "We are looking forward to participating in
the Panel's development of an effective and competitive model that will
benefit issuers, investors and the industry in the global marketplace."

    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,
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

For further information:

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

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Investment Industry Association of Canada (IIAC)

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