{"id":4087,"date":"2025-02-28T15:34:26","date_gmt":"2025-02-28T20:34:26","guid":{"rendered":"https:\/\/cfacanada.org\/?post_type=advocacy_newsletter&#038;p=4087"},"modified":"2025-02-28T15:34:28","modified_gmt":"2025-02-28T20:34:28","slug":"february-2025-advocacy-newsletter","status":"publish","type":"advocacy_newsletter","link":"https:\/\/cfacanada.org\/fr\/advocacy_newsletter\/february-2025-advocacy-newsletter\/","title":{"rendered":"February 2025 Advocacy Newsletter"},"content":{"rendered":"\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">    <div class=\"hero hero--without-image hero-banner-block alignfull\">\n        <div class=\"hero__wrapper container\">\n            <div class=\"row justify-content-between align-items-center g-0\">\n                <div class=\"d-flex col-12\">\n                    <div class=\"hero__content\">\n                        <h1 class=\"hero__title\">February 2025 Advocacy Newsletter<\/h1>\n                                                                                            <\/div>\n                <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n\n\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Download PDF:<\/h2>\n\n\n\n<p><a href=\"http:\/\/cfacanada.org\/wp-content\/uploads\/2025\/02\/202502_CanadianAdvocacyNewsletter.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">February 2025 Advocacy Newsletter<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Summary:<\/h2>\n\n\n\n<p>It&rsquo;s been a busy start to 2025 for the CAC. Since January, we&rsquo;ve submitted eight comment letters to three different regulatory bodies\u2014including our <strong><a href=\"https:\/\/www.osc.ca\/sites\/default\/files\/2025-02\/com_20250214_81-737_caccfa.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">response<\/a><\/strong> to the OSC&rsquo;s proposal to create a new class of investment fund through which retail investors in Ontario could gain exposure to illiquid assets like infrastructure projects, venture capital, and private debt and equity.<\/p>\n\n\n\n<p>In theory, we can see the attraction of giving retail investors access to a broader array of asset classes, especially if it also reinforces broader government priorities around economic growth. But the OSC&rsquo;s proposal didn&rsquo;t come with analysis suggesting top-tier investment opportunities in the targeted asset classes are having trouble meeting their capital needs through institutional investment. Nor did the OSC address the resulting possibility of adverse selection\u2014that the investment opportunities promoted to retail investors under this new structure will tend to be lower-quality ones that more sophisticated investors have already passed on. Given the wide dispersion of fund and manager returns in the targeted asset classes, this risk seems worth engaging with.<\/p>\n\n\n\n<p>Nor are we convinced that the OSC\u2019s proposal that these funds be required to attract an institution as a cornerstone investor to share in retail investors\u2019 risks and returns fully addresses our concerns. We\u2019d like to know more about the potential for conflicts of interest between the cornerstone investor and retail investors and how the OSC proposes to deal with this.<\/p>\n\n\n\n<p>In brief, before the OSC moves further on this, we hope it provides a stronger policy case that addresses our concerns.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"featured_media":0,"template":"","categories":[],"class_list":["post-4087","advocacy_newsletter","type-advocacy_newsletter","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>February 2025 Advocacy Newsletter - CFA Societies Canada<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"February 2025 Advocacy Newsletter - CFA Societies Canada\" \/>\n<meta property=\"og:description\" content=\"Download PDF: February 2025 Advocacy Newsletter Summary: It&rsquo;s been a busy start to 2025 for the CAC. Since January, we&rsquo;ve submitted eight comment letters to three different regulatory bodies\u2014including our response to the OSC&rsquo;s proposal to create a new class of investment fund through which retail investors in Ontario could gain exposure to illiquid assets [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/\" \/>\n<meta property=\"og:site_name\" content=\"CFA Societies Canada\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-28T20:34:28+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/advocacy_newsletter\\\/february-2025-advocacy-newsletter\\\/\",\"url\":\"https:\\\/\\\/cfacanada.org\\\/advocacy_newsletter\\\/february-2025-advocacy-newsletter\\\/\",\"name\":\"February 2025 Advocacy Newsletter - CFA Societies Canada\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#website\"},\"datePublished\":\"2025-02-28T20:34:26+00:00\",\"dateModified\":\"2025-02-28T20:34:28+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/advocacy_newsletter\\\/february-2025-advocacy-newsletter\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cfacanada.org\\\/advocacy_newsletter\\\/february-2025-advocacy-newsletter\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/advocacy_newsletter\\\/february-2025-advocacy-newsletter\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cfacanada.org\\\/fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Advocacy Newsletters\",\"item\":\"https:\\\/\\\/cfacanada.org\\\/fr\\\/advocacy_newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"February 2025 Advocacy Newsletter\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#website\",\"url\":\"https:\\\/\\\/cfacanada.org\\\/\",\"name\":\"CFA Societies Canada\",\"description\":\"Canadian investment values\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cfacanada.org\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"February 2025 Advocacy Newsletter - CFA Societies Canada","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/","og_locale":"fr_FR","og_type":"article","og_title":"February 2025 Advocacy Newsletter - CFA Societies Canada","og_description":"Download PDF: February 2025 Advocacy Newsletter Summary: It&rsquo;s been a busy start to 2025 for the CAC. Since January, we&rsquo;ve submitted eight comment letters to three different regulatory bodies\u2014including our response to the OSC&rsquo;s proposal to create a new class of investment fund through which retail investors in Ontario could gain exposure to illiquid assets [&hellip;]","og_url":"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/","og_site_name":"CFA Societies Canada","article_modified_time":"2025-02-28T20:34:28+00:00","twitter_card":"summary_large_image","twitter_misc":{"Dur\u00e9e de lecture estim\u00e9e":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/","url":"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/","name":"February 2025 Advocacy Newsletter - CFA Societies Canada","isPartOf":{"@id":"https:\/\/cfacanada.org\/#website"},"datePublished":"2025-02-28T20:34:26+00:00","dateModified":"2025-02-28T20:34:28+00:00","breadcrumb":{"@id":"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cfacanada.org\/advocacy_newsletter\/february-2025-advocacy-newsletter\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cfacanada.org\/fr\/"},{"@type":"ListItem","position":2,"name":"Advocacy Newsletters","item":"https:\/\/cfacanada.org\/fr\/advocacy_newsletter\/"},{"@type":"ListItem","position":3,"name":"February 2025 Advocacy Newsletter"}]},{"@type":"WebSite","@id":"https:\/\/cfacanada.org\/#website","url":"https:\/\/cfacanada.org\/","name":"CFA Societies Canada","description":"Canadian investment values","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cfacanada.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"}]}},"_links":{"self":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/advocacy_newsletter\/4087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/advocacy_newsletter"}],"about":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/types\/advocacy_newsletter"}],"wp:attachment":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/media?parent=4087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/categories?post=4087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}