The new head of the investment industry’s main self-regulator is up against two troubling issues: Some people don’t know who he is, and others don’t seem to care. When Andrew Kriegler was announced last week as the new head of the Investment Industry Regulatory Organization of Canada (IIROC), a senior executive at one brokerage reacted by saying, “Who?”
The head of another medium-sized brokerage, asked a few days later for his reaction, admitted he hadn’t yet heard who had been named to run what is supposed to be one of his industry’s most important regulators.
It’s a bit like that old joke, the one that asks what is the difference between ignorance and apathy? The punch line, of course, is “I don’t know and I don’t care.”
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Boyd Erman – Globe and Mail – September 09, 2014.
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