The Association of Canadian Compliance Professionals and the Investment Funds Institute of Canada held their tenth annual Compliance Forum in Toronto this week, with a number of hot-button issues taking centre stage.
Joel Wiesenfeld pulled no punches in setting the tone for his talk on recent trends in compliance and enforcement. Securities regulation at the SRO level, he said, is subject to a host of extraneous pressures, which include "the sometimes heavy-handed oversight of the provincial securities commissions, the invective of investor advocates, the always critical and over-generalizing media, and the hyper-reactive, consumer-oriented politicians."
Joel spent considerable time discussing the enforcement implications of the proposed national securities regulator, suggesting it comes down to five key considerations.
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