Member Update on IIAC Priorities for 2012

A team of senior staff from IIAC visited six cities across the country to brief members on the projects and priorities of which will be a focus for IIAC in 2012. Beginning on the 5th of January in Halifax, IIAC made subsequent stops in Winnipeg, Calgary, Vancouver and Montreal focusing on the Client Relationship Model, Point of Sale, Fatca and Retirement Savings. The Topic of Due Bills was also highlighted in the final city of Toronto.

A copy of the presentation including the Due Bills addition, can be found on the Members Only side of the IIAC.ca website.

2012 Dates Included:

• Jan. 5: Halifax 5:30-6:30 pm, the Westin Nova Scotian (followed by wine and cheese reception).
  IIAC staff: Michelle Alexander, Andrea Taylor, Gerard Holmes
• Jan. 10: Winnipeg 3:00-4:00 pm, the Fairmont Winnipeg (followed by wine and cheese reception).
  IIAC staff: Deborah Wise, Barbara Amsden, Gerard Holmes
• Jan. 11: Calgary 3:00-4:00 pm, the Fairmont Palliser (followed by wine and cheese reception).
  IIAC staff: Susan Copland, Barbara Amsden, Gerard Holmes
• Jan. 12: Vancouver 3:00 – 4:00 pm, the Fairmont Hotel Vancouver (followed by wine and cheese reception)
  IIAC staff: Susan Copland, Barbara Amsden, Gerard Holmes
• Jan. 17: Montreal 8:00 – 9:00 am, The Fairmont Queen Elizabeth
  Marcel St. Amour, Jack Rando, Andrea Taylor, Barb Amsden, Gerard Holmes
• Jan. 18: Toronto 8:00 – 9:00 am, The National Club
  Michelle Alexander, Jack Rando, Barb Amsden, Gerard Holmes

Agenda Provided at Event:

The 1 hour presentation will focus on (but not be limited to) the following four key topics:

• Client Relationship Model: Over the years the IIAC has had many successes in helping to shape the Client Relationship Model (“CRM”) and make it more workable for member firms. CRM is now close to being finalized by the Investment Industry Regulatory Association of Canada and while we await final approval there are many key elements that members and their advisors need to be aware of including: what must be included in the Relationship Disclosure Document, general conflicts of interest management, enhanced suitability requirements as well as timelines for implementation.
• Point of Sale: Discussion will include Stage 1 implementation, what Stage 2 means to member firms when it comes into force in 2012 as well as challenges member firms continue to face with proposed Stage 3 including: challenges around delivery of the fund facts document, waivers, subsequent purchases, updating the fund facts document, as well as increased costs for member firms associated with the proposal which will ultimately change how businesses are run from a compliance and supervisory perspective.
• FATCA (US Foreign Account Tax Compliance Act): Over the past three years, IIAC has been an active voice representing our industry’s concerns about the onerous U.S. tax reporting and withholding requirements for financial institutions – known as “FATCA” – the first phase of which will need to be implemented in 2013.
• Retirement Savings: Promoting retirement savings is an important part of IIAC’s mandate. IIAC has been working to ensure that pressure to improve retirement options does not lead to a shift from the flexibility offered by member-provided RRSP and group RRSP vehicles and will work to address some of the challenges arising from proposed features of The New Pooled Registered Pension Plans (PRPPs) that are targeted at people without workplace pension plans. We’ll also provide the latest on the federal 2011 Budget RRSP/RRIF anti-avoidance proposals and what they mean for your clients.

OSC Dialogue

Tuesday, November 1, 2011

IIAC President and CEO, Ian Russell, participated in the OSC Dialogue on Tuesday, November 1st as the guest luncheon speaker. For more information or a copy of the agenda, please click here.

This session may be eligible for CE credits.



E-Signatures in the Canadian Regulatory Environment

Wednesday, October 12, 2011

Sponsored by Broadridge



Presentation By:


• Larry Boyce, Senior Vice-President SB Regulatory Consulting
• Adam Zimmer, President, Arius Software Corporation

Location: St. Andrew’s Club and Conference Centre,
150 King Street West, 27th Floor, Toronto, Ontario
(North-West corner at King and York)

This seminar reviewed the legislation and regulations at the Federal level and in all provinces regarding the use of electronic documents and signatures in commerce. Regulations and notices of securities regulatory and self-regulatory organizations also permit the use of electronic documents and signatures by securities dealers.

The seminar focused on those parts of the legislation and regulations relevant to the normal course business use of electronic documents and signatures by securities dealers.

The seminar also provided a demonstration of what e-signatures look like.

Canada-US Securities Summit

Wednesday, October 5, 2011




15th Annual Canadian M&A Summit

Monday September 26 - Wednesday September 28, 2011

The IIAC invited members to attend the 15th Annual Canadian M&A Summit held in Toronto from September 26-28th. The Summit brought together the top leaders and decision-makers for an in-depth look at the core issues, trends and skills required to succeed in today’s M&A world. It provided best strategies and skills for targeting, valuing and negotiating strategic M&A deals in today’s environment.

IIAC Members are eligible for a 10% discount. For more information click here.

Industry A.M. - Cross Border Issues

Wednesday September 21st, 2011

Discussion of various cross border issues between the US and Canada.

When: Wednesday September 21st, 2011 10:00am-11:30am
Where: Fasken Martineau

For more information, click here.

2011 Annual Conference - September 15, 2011

IIAC held its Annual Conference on September 15 - this year with the theme "Forging a New Level of Trust in the New Financial World". This year’s event provided IIAC members with insight from some of the top leaders in our industry. See our Annual Conference page for details on the event!

Small Dealers Symposium: Strategies for Success in The New Financial World - September 14, 2011

On Wednesday, September 14th, IIAC hosted its second annual Small Dealers Symposium, focusing on Strategies for Success in the New Financial World. The full day event was moderated by Bill Packham from Hampton Securities Limited and addressed the issues and opportunities faced by small dealers in the current business and regulatory environment. The symposium provided practical, current and relevant information from industry leaders on strategic big-picture issues, as well as transaction based and ongoing management strategies to assist firms in maximizing their value for long term success or in setting the basis for mergers and acquisitions.

Panel 1: State of the Industry with Ian Russell (IIAC) and Earl Biederman (Investor Economics).

• Statistics
• Recovery
• Challenges / Opportunities in next 3-5 years

Panel 2: Setting Your Firm up for Success with Terry Bourne (Terry Bourne and Associates), George Hartman (Market Logics Inc.), Victor Toth (Insight Objects Inc.).

• Need for rigorous strategic planning
• What firms must consider and do to lay foundation for success
• Strategies to Achieve Success

Panel 3: Strategic Transactions with Milan Roy (Deloitte), Kish Kapoor (Wellington West), and Neil Selfe (GMP).

• M&A Transactions (Big Picture)
• Tax considerations

Panel 4: Operational Considerations in Planning/Execution of a Strategic Transaction with Laurie Clark (Smarten Up Institute), and Stan Deudney.

• Vendor Platforms / Delivery model
• Transition Planning

Panel 5: US Experience – Canadian Counterpoint Kim Tillotson-Fleming (Hefren Tillotson), Bill Pictor, (Trubee Collins & Co.) David Williams (First Clearing). Effect of 2008 Crisis on US Small/Regional Firms.

• What are the primary cost issues for US firms – How are they being dealt with
• Growing Your Firm
• Overview of Services that US Carriers Provide

IIAC Annual Golf Tournament at Glen Eagle Golf Club - August 9, 2011

The IIAC hosted its annual golf tournament for compliance professionals in the industry on Tuesday, August 9, 2011, at the Glen Eagle Golf Club in Caledon. It was a wet and soggy course but the 56 die-hard golfers managed to play through the rain. Congratulations to all. A special mention goes to the team of Karen Cushnaghan, Steve Boulanger, Tom White and Nevio Rafaelic – the first place team. The Closet to the Pin was a tie between Patrick Heiland and Nevio Rafaelic. The Longest Drive for a Male was done by Curtis Wennberg. The Longest Drive by a Female was done by Joan Lovett. A notable mention goes to the Most Honest Team – you know who you are! Lastly, we would like to thank all those who donated prizes to the tournament.

IIAC and CSTA Present - Maple Group Acquisition Corporation Presentation with Luc Bertrand - June 27, 2011

The Investment Industry Association of Canada and the Canadian Security Traders Association were pleased to present an exclusive presentation featuring Luc Bertrand of the Maple Group Acquisition Corporation on Monday, June 27th at the Royal York. The presentation provided guests with the opportunity to ask questions and have a dialogue with a key participant in the proposed TMX acquisition.

Where: Fairmont Royal York, 100 Front Street West Toronto, Ontario (ballroom)

IIAC and CSTA “Off the Record” invitation only event - featuring Mr. Xavier Rolet, CEO of the London Stock Exchange Group, and Mr. Tom Kloet, CEO of the Toronto Stock Exchange - June 6, 2011

Last month, the Investment Industry Association of Canada (IIAC) hosted an exclusive "off the record" dinner event in Montreal featuring Mr. Xavier Rolet, CEO of the London Stock Exchange Group, and Mr. Alain Miquelon, President and CEO of the Montreal Exchange. The event provided IIAC guests with the opportunity to ask questions and have a dialogue with the key participants in the proposed LSE/TSX merger.

Mr. Rolet graciously agreed to join the IIAC and the Canadian Security Traders Association (CSTA) for a similar event in Toronto, alongside Mr. Tom Kloet, CEO of the Toronto Stock Exchange.


Where: Fairmont Royal York – 100 Front Street West, Toronto Ontario (Concert Hall)

2011 IIAC Annual General Meeting (AGM) - June 2, 2011

When: Thursday, June 2, 2011 from 4:30-5:30pm
Where: National Club (303 Bay Street in Toronto)

IIAC Manitoba Regional Committee "After hours" event - May 18, 2011

The Investment Industry Association of Canada (IIAC), Manitoba Regional Committee hosted a special "After hours" event recognizing those in the Investment Industry who have successfully completed industry related and accredited courses and programs. Keynote address by Kevin O'Leary.

Kevin O'Leary is Chairman of O'Leary Funds. He is also an investor and cast member of cbc's Dragon's Den and ABC's Shark Tank and founder and President of Soft key software (later known as Learning Company and sold to Mattell for 4.2 billion). Mr. O'Leary is also a host of Discovery Channel's Project Earth where he invested in infrastructure projects in 24 countries.

Lecture and Discussion with Woody Brock - April 27, 2011

Dr. Horace (Woody) Brock has been a key-note speaker at the past two IIAC annual conferences and rated top speaker by delegates in both years. With a deep academic background, Woody’s business experience and broad range of interests have given him a facility to explain complex financial topics in simple and straight forward terms. We are fortunate to have Dr. Brock with us to comment on recent economic, market and policy developments, and provide a perspective on the financial outlook.
Where: National Club, 303 Bay Street, Toronto

Over-the-Counter Derivatives Regulatory Reform in Canada - April 26 and 27, 2011


The IIAC invited members to attend an INFONEX/IIAC co-sponsored conference with optional workshop. IIAC President and CEO, Ian Russell, spoke and moderated a session titled “Assessing the impacts of derivatives regulatory reform on market participants and response strategies”. There was a wide range of other regulatory and industry speakers.
Where: Marriott Residence Inn Toronto Downtown, 255 Wellington Street West, Toronto, Ontario

Xavier Rolet, CEO of the London Stock Exchange Group, and Alain Miquelon, President and CEO of the Montreal Exchange, to speak at IIAC Board of Directors Dinner in Montreal - April 13, 2011

Mr. Xavier Rolet, CEO of the London Stock Exchange Group, and Mr. Alain Miquelon, President and CEO of the Montreal Exchange, spoke at the IIAC Board of Directors Dinner in Montreal on Wednesday, April 13, 2011. The “IIAC members-only” event took place at the Mont Royal Club, and was of interest to many IIAC members.

Given the high profile and relevance of the proposed TMX/LSE merger to our industry, this was a very timely presentation which gave IIAC members who attended an opportunity to more clearly understand the LSE’s perspective on the merger.

Carrying - Introducing Broker Relationships Conference - March 29, 2011

CE Credits now available for those who attended

On Tuesday, March 29th, IIAC hosted a full-day “Carrying – Introducing Broker Relationships” conference at the Toronto Board of Trade. The full day event was moderated by Bill Packham from Hampton Securities Limited and examined regulatory and transactional related issues as well as the evolution of the industry. IIAC would like to thank participating panelists and firms – TD Waterhouse, Pinnacle, Fidelity, Penson, NBCN – as well as Laurentian Bank and the Smarten Up Institute, for their support in making the day a success.

The event looked at regulatory and transactional related issues as well as various tools and technology for the industry, including: responsibilities under IIROC regulation, effects and implications of NI 31-103 requirements, trade supervision responsibilities, multiple marketplace issues, transactions between carrying brokers and factors to consider when changing brokers.

Featured Topics and Panelists:

Regulatory Issues

Panelists

• Bryan Moffitt (Fidelity)
• Charles Piroli (Penson)
• Louis Piergeti (IIROC)

Account Activity/ Process Management – Part 1

Panelists

• Jeff Harvie (TD)
• David Burnes (NBCN)
• Peter Virvilis (Pinnacle)


Account Activity/ Process Management – Part 2

Panelists

• Christine Rodrigues (TD)
• Peter Virvilis (Pinnacle)
• David Tasker (NBCN)


Evolution of the Industry

Panelists

• Bill Henderson (Fidelity)
• Kevin Vanderhayden (Penson)
• Jeff Harvie (TD)
• David Burnes (NBCN)
• Peter Virvilis (Pinnacle)


Moderator – Bill Packham

When: Tuesday March 29th - 8:00am to 4:30 pm with reception
Where: Toronto Board of Trade, First Canadian Place, 77 Adelaide Street West, Toronto, ON


Taxing Times - IIAC Breakfast Event - March 9, 2011


CE Credits now available for those who attended

While the Prime Minister was quoted in 2009 as saying “I don’t believe any taxes are good taxes”, some taxes are ‘less bad’ than others.

Dr. Jack Mintz, Executive Director and Palmer Chair in Public Policy at the University of Calgary, with a series of distinguished credentials in Canada and abroad, co-published a policy paper this year arguing that productivity-enhanced business tax structures, combining internationally competitive tax rates on neutral tax bases, are key to promoting long-term economic and job growth while generating sustainable tax revenue.  Dr. Mintz provided views on business and personal tax reform, with a focus on where the two cross – that is, saving and investment.  As the former Research Director of the 2009 Federal/Provincial Research Working Group on Retirement Income Adequacy, Dr. Mintz commented on how Canada’s tax system can work effectively to support Canadians at work and in retirement, as well as Canadian businesses.


Account Suitability and Know Your Product Compliance - Practical Steps and Best Practices - February 16, 2011


Today, under IIROC Rule 1300 (and the proposed Rule 3400), advisors are required to know and understand the risks of the products they are recommending, while Compliance Officers need proactive ways to monitor all accounts and transactions.

Join Martin Orbach, Director of Product at Subserveo for an informative session covering account suitability reviews and know your product compliance. Martin will discuss best practices and demonstrate the latest innovations in suitability surveillance technology that enable broker-dealers to leverage clearing firm data and use risk intelligence reference information to assist in compliance.

Where: UBC Robson Square - Room C400, 800 Robson Street, Vancouver, BC

Thank you for another successful IIAC Conference - September 23, 2010

The IIAC held its annual Conference on September 23 - this year with the theme "Forging ahead in the new financial world". The event featured a strong lineup of speakers who put in perspective the events that led to the current economic environment, issues facing the investment industry right now, and challenges that could define the industry's future.

The presentations included "Reflections on the Financial Crisis and The Way Ahead" by Tony Fell, "The Path to Canadian Securities Regulation", by Doug Hyndman, "Three Critical Developments in the Global Economy 2010 - 2020" by Dr. Horace "Woody" Brock, "The Evolution of Global Market Structure" by Joe Gawronski, "Al Qaeda in cyberspace and robotic warfare on the horizon" by Arnaud de Borchgrave, "Selling Across the Generations" by Cam Marston, and "Raising the bar for Canada's public equity markets" by Kevan Cowan.

In addition there was a panel discussion featuring Susan Wolburgh Jenah of IIROC and Stephen Luparello of FINRA. The guest speaker at the dinner was William Cohan, author of "House of Cards", and "The Last Tycoons" who provided his reflections on the origins, causes and consequences of the Wall Street financial crisis.

The IIAC would like to thank everyone who attended the conference, the speakers, and the sponsors. We look forward to seeing you at next year's conference.

IIAC Golf Tournament – August 10, 2010

The IIAC hosted a golf tournament for compliance professionals in the industry on Tuesday, August 10, at the Glen Eagle Golf Club in Caledon. A great time was had by all 45 golfers. We would like to thank all those who donated prizes to the tournament. Don’t miss this great networking opportunity next year! Click here to see photos.

Malcolm Hamilton Speaks to Canadian Investment Industry – May 20, 2010

On May 20, the IIAC hosted Malcolm Hamilton, Principal and Worldwide Partner, Mercer at an IIAC Executive Breakfast. Mr. Hamilton is one of the foremost experts on pensions in Canada and his remarks helped members understand the issues underlying the publicized debate on retirement policy. The IIAC thanks the breakfast sponsor, Baynes & White.

 

Browse through our current and upcoming events here:

• Upcoming events
• Industry A.M. Breakfast Seminar Series
• Annual conference
• Investment Outlook Luncheons
• Webinars