A WELCOMED REVIEW OF FINANCIAL LEGISLATION IN QUEBEC
On November 22, 2022, Quebec’s Finance Minister, Éric Girard, stated an intention to implement an annual review of financial legislation in Quebec:
‘’We should clean up our laws every year, update them and adapt them to the evolution of the financial sector.’’ [IIAC translation]
The Minister called the industry to action:
‘’In terms of the changes that need to be made, I expect them to come from you [the industry]. You are the experts, whereas for me, my role is to ensure that the proposed changes are understood, but without always reaching consensus.’’ [IIAC translation]
The IIAC applauds Minister Girard’s approach and recommends a reflection on the future role of La Chambre. There remains, to the detriment of Quebec investors and industry, duplication of regulatory functions as a new SRO emerges well equipped to fully address the distribution of mutual funds in the province.
See: La Presse.