The Investment Industry Association of Canada (IIAC) has announced that Ian Russell, its president and CEO, has been reappointed as chair of the International Council of Securities Association (ICSA).
“In addition to serving as President and CEO of the Investment Industry Association of Canada (IIAC), I am honoured to serve as Chairman of the ICSA,” said Russell. “I view this as a strong opportunity to raise awareness of not only ICSA’s role in promoting efficient and well-functioning securities markets and the efficient flow of cross-border capital, but to elevate the profile of the Canadian securities industry and our capital markets as well.”
The one-year extension is seen as an endorsement of Russell’s achievements in the position to date. Recent achievements include:
- A second submission to IOSCO’s Task Force on Cross Border Regulation
- Strong engagement with IOSCO at their Annual Conferences, through meetings with Committee Chairs
- The establishment of a Market Liquidity Working Group, which submitted a paper to IOSCO based on the work of nine member associations
- Publication of the results of a member survey on cybersecurity, shared with IOSCO’s Associate Member Consultative Committee
- Work on a survey of members on culture and conduct initiatives
Under Mr. Russell’s leadership, ICSA was formally incorporated in 2015, as members wished to clarify its structure to create a solid structure foundation for the future.
ICSA has been designated as the Secretariat for the Cross Border Regulation Forum (CBRF). The CBRF was brought together in 2014 by an international group of financial services trade associations, investment banks, brokerage houses, market infrastructure operators and consumers of financial services to help improve and encourage the dialogue on international regulatory standards. The CBRF has played a leading role in drafting high-level principles related to cross-border regulation.
“Globalized markets require global cooperation—among regulators and between regulators and stakeholders,” concluded Russell. “That is why I am especially pleased to work with international bodies as the Chair of ICSA.”