Low commodity prices and increasing regulatory costs are resulting in layoffs and shutdowns in the investment industry. The Investment Industry Association of Canada’s President and CEO, Ian Russell, appeared on BNN to discuss the perfect storm hitting firms, the rising regulatory costs, and why there may be a light at the end of the tunnel. He was also asked what he would like to see in the March 22 federal budget. Click the icon to watch the interview.
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Ian Russell, IIAC President and CEO, appeared on BNN to discuss the state of independent firms. He described the “perfect storm” of factors contributing to current conditions and outlined the inherent competitive advantages boutique firms offer, before underscoring their critical contribution to Canada’s capital markets.
Russell also noted that the regulatory burden imposed on firms has contributed to the plight of the industry, and reiterated the IIAC’s responsibility and commitment to pushing back and encouraging regulators to exercise caution and perform a cost-benefit analysis before adding to the burden.
Check out Ian Russell’s latest featured guest appearance on BNN.
During yesterday’s interview, Mr. Russell describes recent M&A activity in the mining sector, the reasons for this corporate restructuring, and the outlook. He also discusses the key takeaways from the SIFMA Private Client Conference in New York City on April 10, 2014, specifically the sea-change in investor behaviour that is challenging the fundamental tenets of investing, and forcing new strategic focus in business tactics for the investment industry.
Watch Ian Russell, IIAC President and CEO, discuss the many legacies of former Finance Minister Jim Flaherty on BNN’s The Street.