News Release

IFIC Makes Submission on Regulatory Burden Reduction

March 1, 2019 (Toronto) – The Investment Funds Institute of Canada (IFIC) today filed its submission responding to the Ontario Securities Commission’s (OSC) Staff Notice 11-784 Burden Reduction. IFIC is pleased to support the work of the OSC Burden Reduction Task Force by identifying steps that can be taken to enhance competitiveness for Ontario businesses by saving time and money for issuers, registrants, investors and other market participants while maintaining strong investor protection.

“Regulation imposes costs to the regulatory agency to administer the requirements, costs to firms to comply, and costs to the economy from reduced efficiency and lost opportunities,” said Paul Bourque, President and CEO, IFIC. “All of these costs are ultimately borne by the investor, so it is critical to seek ways to control them.”

IFIC’s submission offers specific and actionable suggestions for reducing the regulatory burden in four key areas: improvements to the rule-making process; changes to current rules; improvements to the OSC’s operations; and improvements to the Canadian Securities Administrator’s information technology systems.

To review the IFIC submission, please visit IFIC.ca.

About IFIC

The 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:

Lisa Hall
Senior Manager, Communications and Public Affairs
lhall@ific.ca
416-309-2317