IFIC Welcomes OSC Seniors Strategy

TORONTO, March 20, 2018 /CNW/ - The Investment Funds Institute of Canada (IFIC) congratulates the Ontario Securities Commission (OSC) on its Seniors Strategy, which was released earlier today.

"IFIC fully supports the OSC's efforts as it seeks to both protect the financial wellbeing of older investors and provide important guidance to the investment industry," said Paul C. Bourque, President and CEO, IFIC. "I would also like to commend the OSC for its thorough, thoughtful and collaborative process, which incorporated the expertise and insights of a broad range of stakeholders." 

In particular, IFIC is pleased to see the OSC's plans to develop a framework that includes the naming of a 'trusted contact person' and a 'safe harbour' provision. The introduction of these changes will better enable advisors to take steps to protect clients when they have concerns about signs of exploitation or diminished judgement.

The industry also welcomes the OSC's intention to produce materials and resources that will help advisors and their firms effectively and sensitively manage these difficult situations.

"IFIC looks forward to continuing to collaborate with the OSC as it executes these elements of this critically important strategy," added Mr. Bourque.

About IFIC
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation.

SOURCE The Investment Funds Institute of Canada