IIAC RESPONDS TO CSA CONSULTATION ON THE SELF-REGULATORY ORGANIZATION FRAMEWORK
The IIAC submitted its response to CSA Consultation Paper 25-402 – Consultation on the Self-Regulatory Organization Framework. The CSA outlined several issues identified by stakeholders with the current regulatory framework including duplicative operating costs for dual platform dealers, regulatory inefficiencies, and investor confusion.
The IIAC believes merging IIROC and the MFDA under a consolidated self-regulatory organization will best enable the CSA to achieve its regulatory objectives as articulated in the Consultation Paper. We anticipate consolidation would achieve immediate efficiency gains and cost savings, thereby allowing the investment industry to dedicate additional resources to enhance innovation in the delivery of products and services with minimal disruption to clients. Consolidation could improve investor protection by achieving a common culture across regulatory entities for greater consistency in compliance practices and enforcement obligations.
For additional information, please contact Adrian Walrath.