IFIC Makes Submission to CSA on Reducing the Regulatory Burden for Investment Fund Issuers
TORONTO, Dec. 09, 2019 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today filed its submission responding to the Canadian Securities Administrators’ (CSA) request for comments on Reducing the Regulatory Burden for Investment Fund Issuers – Phase 2, Stage 1.
“Investment funds make up approximately 39% of Canadians’ financial wealth, and the CSA’s efforts to reduce the burden on investment fund issuers will help the industry in its efforts to serve the interests of investors,” said Paul Bourque, President and CEO, IFIC. “IFIC strongly supports this important initiative.”In addition to providing detailed responses to the questions posed, IFIC provided specific recommendations to the CSA, including: reassessing and streamlining all aspects of investment fund disclosure; eliminating the requirement to annually renew and file a prospectus; and removing duplicative information within and across disclosure documents.“Investors, advisors and regulators each have different information needs, and the ultimate objective must be to provide disclosure that is both meaningful to each stakeholder and delivered in the manner each prefers,” added Bourque. To review the IFIC submission, please visit IFIC.ca.About IFICThe Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation. To learn more about IFIC, please visit IFIC.ca. For more information please contact: