The Investment Industry Association of Canada (IIAC) has rebranded as the Canadian Forum for Financial Markets, a change that recognizes — rather than changes — the trade association’s mandate to improve the competitiveness of the country’s financial markets.
The new name reflects “our proven activity,” CEO Laura Paglia said in an interview. “We’ve put premiums on subject matter knowledge, work ethics and professionalism to focus on the issues … we have been working on and the positive impact on the competitiveness of Canada’s financial markets.”
Those issues include stimulating capital raising, reducing regulatory duplication and fragmentation, advancing a more competitive tax system, strengthening retirement savings frameworks, and transforming financial services delivery, the organization said in a release on Monday.
During the interview, Paglia also noted the declining competitiveness of Canada’s financial markets. “There are multiple reasons for that,” she said. “We’re here to look at those reasons.”
To that end, the Canadian Forum for Financial Markets (CFFiM) plans to review the impact of federally regulated oligopolies, “particularly in the banking sector,” Paglia said. The organization also advocates for open banking and certain types of relief provided to financial services firms in other jurisdictions, such as tax-free spinoffs available to corporations under the Internal Revenue Code in the U.S., she said.
Paglia confirmed that investment and mutual fund dealers will continue to be included in the CFFiM’s mandate. Regarding the latter in particular, she said, “The distribution of mutual funds has always been included in our review and consideration of Canada’s financial markets.”
The rebranding follows expanded or new mandates at other trade groups after the 2023 creation of the single self-regulatory organization — the Canadian Investment Regulatory Organization — from predecessors the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada.
In March 2024, the Federation of Independent Dealers, formerly the Federation of Mutual Fund Dealers, launched under its new name and expanded mandate that focuses on independent dealers, not only mutual fund dealers.
That same month saw the launch of the Canadian Independent Finance and Innovation Counsel — a consulting and advocacy firm for investment dealers. CEO and sole director Annie Sinigagliese is a former managing director of government relations with the IIAC, among other previous industry roles.
In March 2025, the Investment Funds Institute of Canada rebranded as the Securities and Investment Management Association (SIMA), expanding its mandate beyond fund managers and mutual fund dealers to include investment dealers and capital markets participants. At that time, SIMA said it gained “a handful of new members” with the rebranding. The leadership team includes Todd Evans, a past managing director of managed retail products with the IIAC.
Paglia said the CFFiM has new members, although the membership list is confidential. “Our membership … enjoys the benefit of confidentiality for many good reasons,” she said.
For example, in the release, Paglia said the CFFiM was “partnering with those that broaden our intellectual capital” and that the organization was “mindful of undue influence.” When interviewed, Paglia said the CFFiM wants to be free of undue influences “whether they come from self-interested individuals, financial players or regulators.”