Ian Russell, president & CEO of the Investment Industry Association of Canada (IIAC), has been appointed chairman of the standing committee on regulatory affairs at the International Council of Securities Associations (ICSA).
The appointment was ratified at ICSA’s 25th annual general meeting held recently in Copenhagen, Denmark.
Russell is the first Canadian to hold this position.
The standing committee on regulatory affairs serves as the overall co-ordinating committee for ICSA on regulatory matters, with the ability to set up specific working groups as necessary. The committee routinely submits position papers to global regulatory bodies such as the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO). It additionally serves as a forum to enhance the exchange of information among ICSA members on regulatory issues and to share common experiences and best practices as they relate to ICSA members’ interests in the global regulation and supervision of capital markets.
“We are delighted to have Mr. Russell serve as chairman of ICSA’s standing committee on regulatory affairs,” said Dr. Marilyn Skiles, Secretary General of ICSA. “His knowledge of capital markets and experience in securities regulation, as well as bringing a Canadian perspective to our work, will be helpful in developing the ICSA agenda on global regulatory reform.
“With global capital markets in a state of turmoil, this is an ideal time to have an investment industry leader from Canada – whose financial systems have fared comparatively well – guide our work over the next two years.”
“This is an important role as the IIAC will be at the epicenter of the global reform process, through our work on this key ICSA committee. Leadership of the committee will provide a window on the global regulatory agenda, notably in Europe, the United States and Asia,” said Russell of his appointment.