Local securities regulators would continue registering and overseeing portfolio managers, restricted portfolio managers, investment fund managers, exempt market dealers, restricted dealers, and scholarship plan dealers.
Aligned with the CSA’s 2022-2025 Business Plan, this initiative aims to enhance efficiency and reduce regulatory burdens. A centralized registration process would enable CSA members to focus on oversight of CIRO, regulatory policy, novel issues, and exemptive relief applications.
Stan Magidson, CSA chair and chair of the Alberta Securities Commission, stated, “Today’s announcement marks a natural progression of efforts to modernize the Canadian self-regulatory framework.
Magidson continued, “We expect this initiative would benefit market participants through a more streamlined process and allow regulators to prioritize policy developments that continue to foster healthy, fair and efficient markets.”
Andrew Kriegler, president and CEO of CIRO, welcomed the potential delegation, emphasizing its alignment with CIRO’s strategic objectives.
