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The Voice of Canada’s Investment Funds Industry

Cooperative Securities Regulator

IFIC has not engaged actively in the debate on whether Canada requires a single national securities regulator. The investment funds industry is regulated by all 13 of Canada’s securities regulators that work cooperatively through the Canadian Securities Administrators, creating a passport system – a harmonized set of regulations, policies and practices that streamlines the regulatory process. As a result, the investment funds industry already enjoys many of the benefits that a national securities regulator would bring.

IFIC’s comments about a national or common securities regulator are focused on:

  • protecting the existing passport system
  • constructing any new body in such a way that it doesn’t not become a costly additional layer
  • ensuring that any new body includes knowledgeable staff in a fund-dedicated unit
  • a commitment to meaningful consultation with the industry to ensure a strong, stable investment sector where investors can realize their financial goals.


IFIC Submission – CCMRS Participating Jurisdictions – 2016 Consultation Draft of the Capital Markets Stability Act (July 12, 2016)

IFIC Submission - Cooperative Capital Markets Regulatory System - Draft Legislation (December 8, 2014)

Submission to OSC - OSC Statement of Priorities (April 27, 2011)

Submission to Federal Government: Expert Panel on Securities Regulation – Public Consultation Paper - 07 2008

Submission to Wise Persons Committee: Restructuring the Regulatory Framework of the Securities Industry in Canada - 07 2003