SIFMA’s Asset Management Group (SIFMA AMG) provided comments to the governments of Canada, British Columbia, New Brunswick, Ontario, Prince Edward Island, and Saskatchewan on the Cooperative Capital Markets Regulatory System Governance and Legislative Framework.

SIFMA AMG members are primarily U.S. asset management firms, therefore the comment letter focuses solely on provisions in the Capital Markets Stability Act (CMSA).

SIFMA AMG supports Canada’s efforts to protect and strengthen Canada’s capital markets, but expressed concerns related to the specific provisions included in the legislation, which would create a new regulator to address systemic risk.