The Stromberg Report
An Industry Perspective
Description:... A report on the investment fund industry prepared by Glorianne Stromberg in 1995 suggested the formation of a group having sufficient practical experience and stature to oversee and manage the process of responding to the various recommendations in that report effectively and efficiently. This document presents the group's response to the Stromberg report, incorporating the views of the industry. It first sets out the priorities for Canadian securities administrators and the investment funds industry, then comments on the Stromberg recommendations under five main categories: regulatory structure, focusing on a proposed self-regulatory organization; industry participants, including sales practices, standards, use of electronic technology, and regulation of fund managers; disclosure and investor education; fund governance, organization, and management; and administration and infrastructure of investment funds. The appendix includes a list of proposed fund categories and a summary of the Stromberg report recommendations.
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