Ian Russell – The Industry Faces a Perfect Storm

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Great to see Mr. Russell on BNN again discussing the perfect storm pounding the Canadian Capital Markets and wiping out the Boutique Brokerage business. He actually discusses the lack of regulatory balance and the unintended result.
The top three challenges facing the industry are:
1) IIROC
2) IIROC
3) IIROC
A rouge regulatory organization that is out of control with their insatiable hunger for power regardless of the price being paid in Canadian jobs, lost opportunities and economic diversification.
NO brokers means:
NO analytical coverage + NO corporate finance support + NO advisors allowed to sell risk products to Canadians= NO more Venture Market
The solution “DISBAND” IIROC and give the market back to the Security Commissions!!!

http://www.bnn.ca/Video/player.aspx?vid=807502