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May 2026 Advocacy Newsletter

Summary:

As we approach the midpoint of 2026 and near the end of our operating year, I’m reflecting on the accomplishments of the year, the open items we’re working to complete, and what it means for the year and years ahead. We’ve come far with material milestones, and yet accomplishments seem to in-part only unlock opportunities for greater impact. While we continue to work with Canadian securities regulators to advance innovation- and competition-oriented policy approaches that are investor-friendly, we recognize that many of the policy battles ahead will demand increasing work with partners, and with government on broader questions of economic and industrial policy in Canada. Like many of you, I believe that asset and investment management is a source of competitive advantage for Canada (in large part because of our exceptional talent pool) and can play a critical role in reinforcing Canada’s economic sovereignty, in spurring capital formation, and in helping to inflect long-challenged productivity problems in the Canadian economy. And I’m looking forward to making that case, and in hopefully leading a chorus of voices echoing the same messages.

This month, while we’re busy drafting commentary ahead of the summer, our responsive efforts have been slower and more thoughtful. We are actively engaged across a broad range of consultations, including proposals relating to insider reporting requirements, dual registration reforms, continuing education harmonization, client delivery obligations, and an (overdue, in our view) OSC initiative aimed at creating machine-readable securities regulation frameworks as an element of regulatory modernization. Collectively, these initiatives reflect a growing recognition that Canada’s regulatory infrastructure must evolve more expeditiously alongside advances in technology, data accessibility, and compliance automation.

At the same time, the work of our volunteer leaders across the Canadian Advocacy Council, Canadian Investment Performance Council, and Board of Directors continues to strengthen the profession and contribute meaningful practitioner perspectives to our policy advocacy efforts and in the exploration of industry best practices. This month’s spotlight on Cynthia Shaw-Pereira, CIPM, also highlights her leadership and the continued importance of advancing transparency, comparability, and trust in investment performance measurement and reporting.

Michael Thom, CFA

Managing Director

CFA Societies Canada