The Investment Industry Association of Canada (IIAC) is welcoming B.C. and Ontario’s decision to proceed with a cooperative capital markets regulatory system.

Read: 6 ways regulators can boost the financial industry: IIAC

IIAC says it will better protect investors, support efficient capital markets and manage systemic risk.

“The cooperative approach that respects constitutional jurisdiction, and an independent expert Board of Directors, broadly representative of the regions of Canada and fully accountable, will encourage other provinces to join the cooperative regulatory system. The IIAC is prepared to lend its industry expertise to assist in building momentum and support for this initiative,” said Ian Russell, IIAC’s president and CEO.

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