Why does IIROC have so much money to spend? Where does it go? What changes are necessary?
Look for the opinion link!
See also the draft version with footnotes.
Update, 2011-8-29: Janet McFarland of the Globe published a piece today titled Regulators mum on plans for ABCP settlement payments. It focussed on the delays in spending the new money rather than past improprieties, but there was one nugget of new information:
In an e-mailed statement, IIROC said it is working with the OSC “on a co-ordinated and consistent approach” for the money, and “public disclosure will be made at an appropriate time.”
Hmm … they’ve never ‘worked with the OSC’ before to determine how to spend their cash … one wonders what is going on in the background.