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.