IFIC Welcomes OSC Regulatory Burden Reduction Report
TORONTO, Nov. 19, 2019 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) welcomed the report the Ontario Securities Commission (OSC) issued today outlining its initiatives to reduce the regulatory burden on Ontario’s capital markets.
“OSC staff must be both commended for their willingness to consult with their stakeholders and congratulated for the broad nature of the reforms they are contemplating in response to the feedback they received,” said Paul C. Bourque, President and CEO, IFIC. “The investment funds industry, along with the investors it serves, will benefit meaningfully from the OSC’s efforts to streamline and modernize how it regulates.”In particular, IFIC welcomed the OSC’s consideration of steps to reduce regulatory burden by decreasing the frequency of investment fund prospectus filings and by improving the coordination of compliance reviews with other regulators. IFIC looks forward to continuing to collaborate with the OSC as it works to achieve the objectives set out in its report.“We also encourage other members of the Canadian Securities Administrators to work with the OSC in extending these initiatives to other jurisdictions in Canada,” added Mr. Bourque.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.For more information, please contact:Pira Kumarasamy
Senior Manager, Communications and Public Affairs
The Investment Funds Institute of Canada