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March 2023 Advocacy Newsletter

Summary:

I love spring as it’s a first-hand reminder of how revitalizing change can be. Change is underway on our Council as we have a call out for new members. This is an opportunity to collaborate with incredible professionals with diverse experiences.  

Although backgrounds vary, we come together with a common interest and passion – that Canadians have access to fair and efficient capital markets that are not only transparent but also provide investors with necessary protection. Our Canadian markets and the global financial ecosystem continue to evolve and for regulatory oversight to remain “fit for purpose” it must do the same.  

Regulators and SROs regularly seek consultation on proposed rules. As investment professionals we can lend valuable insights from our experience and expertise to these proposed regulatory changes, priorities, and innovations under  consideration. Please consider lending your time and voice to this Council.  

The Council filed several letters in response to consultations this past month. With respect to the Consultation on Access to Real-Time Market Data, we support those aspects of the Consultation aimed at enhancing transparency and accountability by ensuring that all fees and increases to those fees for RTMD in Canada are subject to public notice and comment. We note many laudable features in the options but highlight that the Council would like to see a model which involves regular comparisons with foreign market data fees and fee structures to ensure that data on our markets is competitive. The importance is underscored given the inter-listed nature of our markets and the comparably inexpensive RTMD rates in the U.S. The initiatives undertaken by the Council (including above and below) would not be possible without the commitment and support of its members. I want to close out by taking this space to thank our members who give their time to this Council.