The Investment Funds Institute of Canada is commending the Canadian Securities Administrators on the release of its Mutual Fund Governance Concept Proposal,.

“We have worked diligently with the regulators over the past year on fund governance, and we are heartened to see that much of our contribution is reflected in the document,” Tom Hockin, president and CEO of IFIC. He added that “IFIC and its members hope to soon see a nationally harmonized and cost-effective fund governance regime.”

Stephen Griggs, chief operating officer of AIC Funds and chair of the IFIC committee on governance stated that “IFIC is also encouraged by the CSA’s set of choices on the implementation of a fund governance structure; IFIC believes that any implementation of fund governance must result in the removal of certain parts of the current regulatory structure which have imposed significant costs on investors and which will be made unnecessary under a fund governance model.”

IFIC will now study both the concept proposal and its supporting documentation in greater detail and will undertake to provide more comprehensive comments at a later date.