The Association for Investment Management and Research (AIMR) has joined forces with several leading industry associations in an initiative to promote the adoption of a single securities regulator in Canada.

Sponsored by AIMR, an advertisement in today’s major national dailies, The Globe and Mail and the National Post, highlights the many advantages a single regulator would have over Canada’s current system.

The ad is co-signed by the Canadian Bankers Association, Canadian Chamber of Commerce, Canadian Council of Chief Executives, Investment Counsel Association of Canada, Pension Investment Association of Canada, and Treasury Management Association of Canada.

AIMR notes that the findings of the Wise Persons’ Committee clearly demonstrate that Canadian investors and investment professionals want a regulatory framework modeled for the future, not rooted in the past.

Similarly, a July 2003 AIMR member survey revealed that three-quarters of respondents would like to see the current system replaced with a single regulator.

“The importance of this issue to Canada’s financial markets, economy and long-term competitiveness should not be underestimated,” stated David Yu, CFA, co-chair of AIMR’s Canadian Advocacy Committee. “That is why these leading organizations have come together to speak with a united voice on this issue. We urge our policymakers to heed the call for a single regulator and adopt the key recommendations of the Wise Persons’ Committee. The time for action is now.”