National Post (Latest Edition)

INVESTMENT FIRM CLOSURES IN CANADA TO RISE, SURVEY SAYS

- Bloomberg News

The number of securities firms operating in Canada is likely to shrink further amid competitio­n and escalating costs from technology and regulation­s, according to a survey from the country’s main industry group. Fifty- five per cent of chief executive officers of surveyed investment dealers expect the number of firms exiting the industry in the next two years to be higher than the previous two years, the Investment Industry Associatio­n of Canada said Thursday. “Roughly onequarter of the small firms in the investment industry will continue to struggle from difficult competitiv­e pressures and the steady escalation in fixed costs from technology and regulatory change,” IIAC chief executive officer Ian Russell, pictured, said in a speech Thursday in Toronto.

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