PCMA Launches New “Fair and Balanced Regulation” Advocacy Website
TORONTO, Feb. 06, 2024 (GLOBE NEWSWIRE) — The Private Capital Markets Association of Canada (PCMA) is pleased to announce the launch of its bilingual advocacy platform called “Fair and Balanced Regulation.” This advocacy website was created in response to the Canadian Securities Administrators’ (CSA) proposal to give the Ombudsman for Banking Services and Investments (OBSI) binding decision-making powers of up to $350,000 under proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (the Proposed Amendments).
The PCMA does not believe the Proposed Amendments strike the right balance between investor protection and fair and efficient capital markets. This advocacy website seeks to explain the issues and concerns of the PCMA’s members and how they believe the Proposed Amendments will directly impact capital raising for small and medium-sized issuers and negatively impact the Canadian economy. The PCMA believes this type of education and dialogue through a dedicated website is important for all stakeholders in addition to submitting a comment letter to the CSA in response to the Proposed Amendments.
David Gilkes, Chair of the PCMA stated that “the PCMA is pleased to launch our advocacy website which aims to better inform the public on our views. The PCMA believes that investor protection is important, but the approach taken by the CSA in the Proposed Amendments are not fair by design nor are they balanced.”
The PCMA’s advocacy website launches with a selection of articles that provide a critical examination of elements of the Proposed Amendments and their potential impact on the industry. The PCMA will continue to update the website with fresh insights, commentary, and the information pertinent to these regulatory discussions.
For more details and to participate in this important discussion, you can access the PCMA Advocacy Website at https://fairandbalancedregs.com and subscribe to communications to remain current on the PCMA’s thoughts and perspectives regarding the Proposed Amendments.
About the PCMA:
The PCMA is a not-for-profit association founded in 2002 as the national voice of the exempt market dealers, issuers and industry professionals in the private capital markets across Canada.
The PCMA plays a critical role in the private capital markets by: assisting hundreds of dealers and issuer member firms and individual dealing representatives to understand and implement their regulatory responsibilities; providing high-quality and in-depth educational opportunities to the private capital markets professionals; encouraging the highest standards of business conduct amongst its membership across Canada; increasing public and industry awareness of private capital markets in Canada; being the voice of the private capital markets to securities regulators, government agencies and other industry associations and public capital markets; providing valuable services and cost-saving opportunities to its member firms and individual dealing representatives; and connecting its members across Canada for business and professional networking.
PCMA Office Address: Suite 5700, First Canadian Place 100 King Street West, Toronto, ON, M5X 1C7
PCMA Fair and Balanced Regulations Website URL: https://fairandbalancedregs.com