TORONTO, Sept. 11, 2020 (GLOBE NEWSWIRE) — The Funding Funds Institute of Canada (IFIC) at the moment filed its submission in response to the Capital Markets Modernization Taskforce’s Session Report.
“IFIC welcomes the Taskforce’s initiative to make Ontario’s capital markets extra vibrant and extra pushed by innovation,” mentioned Paul Bourque, President and CEO, IFIC. “We additionally commend the Taskforce on its transformative and forward-looking suggestions.”
Along with offering feedback on lots of the Report’s proposals, IFIC highlighted its suggestions on numerous themes in its submission abstract. These embrace: lowering the regulatory burden, increasing the mandate of the Ontario Securities Fee (OSC), and strengthening self-regulatory group accountability.
The submission abstract additionally reiterates IFIC’s advice that the OSC turn out to be a “passport regulator” by adopting Multilateral Instrument 11-102 Passport System. The OSC is the one member of the Canadian Securities Directors that has not adopted the system, which imposes regulatory burden each on the business and on regulators.
The Funding Funds Institute of Canada is the voice of Canada’s funding funds business. IFIC brings collectively 150 organizations, together with fund managers, distributors and business service organizations, to foster a robust, secure funding sector the place buyers can understand their monetary objectives. By connecting Canada’s savers to Canada’s economic system, our business contributes considerably to Canadian financial progress and job creation.
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