Uncalled for and overly prescriptive new rules on how investment funds should manage liquidity are threatening the competitiveness of the Canadian institutional asset management industry.  

The proposed new rules from the Canadian Securities Administrators (“CSA”) are intended to put Canadian rules in line with global standards set by IOSCO, the International Organization of Securities Commissions. AIMA’s response notes that they go far further than the international standards require and will saddle Canadian investment funds offered to institutional investors with detailed rules that do not exist in countries with competing investment fund industries.