News Release

IFIC Responds to CSA Rule Amendments to Implement the Client Focused Reforms

Reforms are aimed at improving investor confidence and enhancing the client-registrant relationship

October 3, 2019 (Toronto) – The Investment Funds Institute of Canada (IFIC) today welcomed the Canadian Securities Administrators’ (CSA) rule amendments to implement the Client Focused Reforms (CFRs).

“The industry shares the CSA’s commitment to better aligning the interests of clients and registrants to improve investor outcomes,” said Paul C. Bourque, President and CEO, IFIC. “We support the regulators’ harmonized approach to finding the right balance between achieving the investor protection goals of the CFRs and the associated regulatory burdens.”

IFIC welcomes the streamlined changes to the Know Your Product and Suitability provisions designed to put the client’s interests first, and the addition of a materiality qualifier to the conflicts of interest provisions. IFIC looks forward to engaging with the CSA’s implementation committee and supporting the CSA’s review of referral arrangements.

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:

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca
416-309-2317