PMAC responded to the CSA’s consultation about the regulatory regime for exchange-traded funds. We did not agree with the prescriptive regulatory regime proposed by the CSA in the consultation and encouraged the CSA to ensure that any additional burden placed on firms is justified by evidence and subject to a rigorous cost/benefit analysis. Our key recommendations were to:
- Adopt principles-based regulation that is adaptable to various business models and sizes and can evolve over time.
- Minimize additional disclosure requirements and ensure that any new disclosure is decision-useful and evidence-based.
- Improve the competitiveness of the Canadian asset management industry
Click here to read the full submission.