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  • Securities Regulation | IIAC
    recent months the multinational regulators the FSB and the IOSCO have concluded that systemic risks related to large asset managers flow from their potential system wide impact on capital markets not from the particular institution per se It is likely that Canadian authorities will reach a similar conclusion This would likely mean removal of large Canadian non bank non insurer financial institutions from inclusion in the Capital Market Stability Act CMSA i e the Continue reading Tagged CCMRS financial sector Global reforms Ian Russell Securities regulation Systemic Risk Comments Off on Smooth Sailing Likely for National Securities Regulator IIAC Blog Bill Black Appointed Chair of the Capital Markets Regulatory Authority IIAC Blog Bill Black Appointed Chair of the Capital Markets Regulatory Authority IIAC Blog Today the Ministers responsible for capital markets regulation in British Columbia Ontario Saskatchewan New Brunswick Prince Edward Island Yukon and the federal Minister of Finance together representing the Council of Ministers announced that William Bill A Black has been appointed Chair of the Board of Directors of the Capital Markets Regulatory Authority Bill Black is an excellent choice He is recognized as a proven leader in the business community with a career that spanned 34 years at Maritime Life including nine years as President and Chief Executive Officer He has the requisite knowledge and experience in financial markets has worked Continue reading Tagged CCMRS Ian Russell Industry news Securities regulation Comments Off on Bill Black Appointed Chair of the Capital Markets Regulatory Authority IIAC Blog IIAC s Response to Proposed Guidance on Marketplace Thresholds IIAC Blog IIAC s Response to Proposed Guidance on Marketplace Thresholds IIAC Blog The IIAC has submitted comments to the Investment Industry Regulatory Organization of Canada IIROC on the proposed guidance requiring Canadian exchanges and alternative trading systems to establish specific price thresholds that when breached would trigger a halt in trading in the event a particular stock experiences rapid and unexplained price movement over a short period of time The IIAC generally supports the principles of the guidance but voiced significant concern with the requirement that dealers tailor their individual order flow so as to avoid exceeding the marketplace threshold for a particular security In our view Continue reading Tagged Securities regulation Securities trading Submissions Susan Copland Comments Off on IIAC s Response to Proposed Guidance on Marketplace Thresholds IIAC Blog Regulatory Map of Canada Regulatory Map of Canada Regulation of Canada s investment industry is well confusing to put it mildly CIFP has created an easy to use interactive map aimed at simplifying the layers and layers of regulatory oversight in this country All users have to do is click on a province or territory and a drop down menu appears with a hyperlinked list of regulators in each region There s also an option to click on the Canadian flag for a list of the oversight bodies at the national level Although this is straightforward navigating the map is yet another reminder of why Canada needs a cooperative Continue

    Original URL path: http://iiac.ca/tag/securities-regulation/ (2016-02-14)
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  • This Week In Financial History | IIAC
    Canadian postal service is transferred from British control and sets a uniform postal rate of 3 pence a letter April 9 1987 The Supreme Court of Canada rules that the right to strike is not guaranteed by the constitution 1869 In England Hudson Bay Company shareholders accept the terms of Rupert s Land Act of 1868 and the company cedes its territory to Canada April 10 1990 The House of Commons passes the Goods and Services Tax bill by a vote of 144 to Continue reading Tagged This Week in Financial History Comments Off on This Week in Financial History This Week in Financial History This Week in Financial History For the week of March 30 March 30 1872 The first issue of The Mail is published it later becomes part of The Globe and Mail March 31 1937 The Toronto Stock Exchange closes at 193 6 up 200 since 1932 1831 Montreal is incorporated as a city April 1 1976 The federal government raises the federal minimum wage to 2 90 per hour April 2 1968 Montreal Mayor Jean Drapeau creates Canada s first modern lottery to help pay down the 250 million deficit from Expo 67 Continue reading Tagged This Week in Financial History Comments Off on This Week in Financial History This Week in Financial History This Week in Financial History For the week of March 16 March 16 1967 Quebec raises its provincial sales taxes from 6 to 8 to supplement family allowances This becomes the highest sales tax in Canada 1977 Quebec Finance Minister Jacques Parizeau abolishes the province s Anti Inflation Board 1990 Prime Minister Brian Mulroney signs 10 bilateral agreements with Mexico and discusses free trade with President Carlos Salinas de Gortari March 17 1577 Martin Frobisher gets a commission from the Cathay Company to hunt for gold in the Arctic He later returns with tons of worthless pyrites which are dumped as Continue reading Tagged This Week in Financial History Comments Off on This Week in Financial History This Week in Financial History For the week of March 9 This Week in Financial History For the week of March 9 March 9 1824 Canada formally adopts the patent system 1855 First Great Western Railway locomotive crosses the 255 metre Niagara Falls suspension bridge to the U S giving Ontario direct rail connection to the state of New York This is the world s first wire cable suspension bridge it was built across the Gorge from 1851 55 by engineer John Roebling who later built the Brooklyn Bridge 1951 The House of Commons approves incorporation of TransCanada Pipelines to build 5 000 km natural gas pipeline from Alberta to Quebec March 10 1865 In Quebec City Continue reading Tagged This Week in Financial History Comments Off on This Week in Financial History For the week of March 9 This Week in Financial History This Week in Financial History For the week of March 2 March 2 1943 The federal budget introduces the first

    Original URL path: http://iiac.ca/tag/this-week-in-financial-history/ (2016-02-14)
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  • Submissions | IIAC
    for those individuals providing comprehensive financial plans to clients and or using Continue reading Tagged Financial Planners Michelle Alexander Submissions Comments Off on Investment Industry Calls for Regulation of All Financial Planners IIAC blog Changing Workplaces Review IIAC Provides Comments to the Ontario Ministry of Labour IIAC blog Changing Workplaces Review IIAC Provides Comments to the Ontario Ministry of Labour IIAC blog In May 2015 the Ontario Ministry of Labour launched public consultations on the broader issues affecting the workplace and how the current labour and employment law framework as set out in two specific Acts i e the Employment Standards Act 2000 and the Labour Relations Act 1995 addresses these trends and issues The IIAC focused its submission on the current Employment Standards Act and Regulations specifically section 2 1 of Ontario Regulation 285 01 The Regulation expressly exempts certain professionals for example architects lawyers engineers and accountants from provisions of the Act pertaining to hours of work minimum wage public Continue reading Tagged Employment Standards Act Submissions Susan Copland Comments Off on Changing Workplaces Review IIAC Provides Comments to the Ontario Ministry of Labour IIAC blog The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP IIAC Blog The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP IIAC Blog On July 13 the federal government opened a public consultation on options for a voluntary supplement to the CPP While a number of recent studies have concluded that most working age Canadians are on track to maintain their standard of living in retirement the government said it is committed to exploring ways to give Canadians more choice in how they save Given the number of savings options already available in Canada it is not clear that a voluntary CPP supplement is needed It may not even make sense Voluntary supplemental pension plans generally involve contributions to individual accounts Continue reading Tagged Andrea Taylor CPP Pension Reform Submissions Comments Off on The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP IIAC Blog What Does the IIAC Want To See in the 2016 Federal Budget IIAC Blog What Does the IIAC Want To See in the 2016 Federal Budget IIAC Blog The Investment industry Association of Canada IIAC s pre budget submission is now available online In its submission the IIAC commended the federal government for its efforts to balance the books improve the business tax landscape and make it more attractive for Canadians to save in TFSAs and RRIFs At the same time the IIAC noted that weak global economic conditions and depressed energy prices have placed a stranglehold on economic growth The pullback in investment in the energy sector will reverberate across Canada Also of concern is the fact that non energy exports remain depressed even after the Canadian dollar s Continue reading Tagged Ian Russell IIAC Pre Budget Submission Small business access to capital Submissions tax policy Comments Off on What Does the IIAC

    Original URL path: http://iiac.ca/tag/submissions/ (2016-02-14)
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  • Andrea Taylor | IIAC
    Position to Government on a Voluntary Supplement to the CPP IIAC Blog The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP IIAC Blog On July 13 the federal government opened a public consultation on options for a voluntary supplement to the CPP While a number of recent studies have concluded that most working age Canadians are on track to maintain their standard of living in retirement the government said it is committed to exploring ways to give Canadians more choice in how they save Given the number of savings options already available in Canada it is not clear that a voluntary CPP supplement is needed It may not even make sense Voluntary supplemental pension plans generally involve contributions to individual accounts Continue reading Tagged Andrea Taylor CPP Pension Reform Submissions Comments Off on The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP IIAC Blog IIAC Ontario Government Must Address Important Questions Before Introducing ORPP IIAC Ontario Government Must Address Important Questions Before Introducing ORPP In a response to the Ontario government s Consultation Paper on the proposed Ontario Retirement Pension Plan ORPP the IIAC expressed disappointment at the haste in moving forward with the ORPP prior to the government s assessment and response to key questions raised in the IIAC s submission In particular if existing savings plans for employees such as group RRSPs are not deemed to be comparable plans to the ORPP the result will be reduced flexibility and choice for employers and employees and an overall weakening of the Ontario financial services sector a negative economic impact that will be felt Continue reading Tagged Andrea Taylor ORPP Comments Off on IIAC Ontario Government Must Address Important Questions Before Introducing ORPP IRS Announces Simplified Filing Procedures for Canadian Retirement Plans For Clients who are U S Citizens or dual Canadian U S Citizens IRS Announces Simplified Filing Procedures for Canadian Retirement Plans For Clients who are U S Citizens or dual Canadian U S Citizens On Tuesday the IRS announced that it would be eliminating the requirement for U S taxpayers holding RRSP and RRIF accounts to file Form 8891 to elect for tax deferral of income earned in those plans they will now automatically qualify for tax deferral similar to U S IRA and 401 k plans U S taxpayers will only qualify for this special treatment as long as they file U S tax returns for the years they hold the RRSP or RRIF and include any distributions as income on their U S tax returns The special treatment will also apply retroactively to U S taxpayers holding RRSPs Continue reading Tagged Andrea Taylor IRS Comments Off on IRS Announces Simplified Filing Procedures for Canadian Retirement Plans For Clients who are U S Citizens or dual Canadian U S Citizens Support Team IIAC in the JDRF Ride for Diabetes Research Support Team IIAC in the JDRF Ride for Diabetes Research On September 19th the IIAC will

    Original URL path: http://iiac.ca/tag/andrea-taylor/ (2016-02-14)
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  • Jack Rando | IIAC
    the industry s perspectives on debt market transparency at the 2014 Bloomberg Canadian Fixed Income Conference on September 30th Jack was interviewed by Bloomberg s Managing Editor David Scanlan The 10 minute interview is available here Tagged Bloomberg Canadian Fixed Income Conference Jack Rando Comments Off on IIAC s Jack Rando on Canadian Bond Market Transparency Liquidity The IIAC at Bloomberg s Canadian Fixed Income Conference The IIAC at Bloomberg s Canadian Fixed Income Conference Jack Rando IIAC Managing Director of Capital Markets will be presenting Canada s investment industry s perspectives on debt market transparency at the 2014 Bloomberg Canadian Fixed Income Conference Date Tuesday September 30 2014 Time Registration and breakfast 8 00 a m Conference adjourns 4 10 p m Jack s panel runs from 3 10 p m to 3 40 p m and can be viewed live on Bloomberg TV Location Bloomberg Headquarters731 Lexington Ave between 58th 59th Streets New York NY 10022 Tagged Debt market transparency Events Jack Rando Comments Off on The IIAC at Bloomberg s Canadian Fixed Income Conference Recommended Debt Market Closings for Labour Day Holiday Recommended Debt Market Closings for Labour Day Holiday Member firms are reminded that the IIAC Debt Markets Committee recommends that domestic bond and money markets be closed Monday September 1 2014 in observance of Labour Day An early close 1 00 pm ET is recommended for Friday August 29 2014 These are recommendations only and member firms are individually responsible for deciding whether their fixed income desks remain open for trading Click here to view the IIAC s 2014 Schedule of Recommended Closings If you have any questions on recommended closing dates please contact Jack Rando Tagged Jack Rando Recommended debt market closings Comments Off on Recommended Debt Market Closings for Labour Day Holiday Recommended Debt Market Closings for Canada Day Holiday Recommended Debt Market Closings for Canada Day Holiday Member firms are reminded that the IIAC Debt Markets Committee recommends that domestic bond and money markets be closed Tuesday July 1 2014 in observance of Canada Day An early close 1 00 pm ET is recommended for the preceding day Monday June 30 These are recommendations only and member firms are individually responsible for deciding whether their fixed income desks remain open for trading Click here to view the IIAC s 2014 Schedule of Recommended Closings If you have any questions on recommended closing dates please contact Jack Rando Tagged Debt market closings Jack Rando Comments Off on Recommended Debt Market Closings for Canada Day Holiday Schedule of Recommended Closings of the Domestic Bond and Money Markets Schedule of Recommended Closings of the Domestic Bond and Money Markets The IIAC s Jack Rando Managing Director Capital Markets reminds member firms that the IIAC Debt Market Committee has recommended a closure of domestic bond and money markets in observance of Good Friday Friday April 18 2014 preceded with a recommended early close 1 00 pm ET on Thursday April 17 These are recommendations only and

    Original URL path: http://iiac.ca/tag/jack-rando/ (2016-02-14)
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  • February, 2016 | IIAC
    Only Small Dealers Overview Ian Russell on SAID Advocacy SAID Successes Publications Industry Data Tools SAID Committee Meeting Minutes Centres of Higher Learning Media Coverage SAID Events Investors Newsroom Subject Matter Experts News Releases Op Eds The IIAC in the News Blog eNewsletter Speeches Upcoming Presentations Videos Canada s Investment Industry Faces Did You Know Logos Media Kit Social Media Policy Events Upcoming Events Webinars IIAC Investment Industry Hall of Fame IIAC Top Under 40 Award Take Our Kids to Work Day Compliance and Operations Symposium Small and Independent Dealers Symposium Cybersecurity Symposium Sponsorship Opportunities Hall of Fame Search Monthly Archives February 2016 IIAC s Ian Russell Discusses State of Independent Dealers on BNN IIAC Blog IIAC s Ian Russell Discusses State of Independent Dealers on BNN IIAC Blog Ian Russell IIAC President and CEO appeared on BNN to discuss the state of independent firms He described the perfect storm of factors contributing to current conditions and outlined the inherent competitive advantages boutique firms offer before underscoring their critical contribution to Canada s capital markets Russell also noted that the regulatory burden imposed on firms has contributed to the plight of the industry and reiterated the IIAC s responsibility and commitment to pushing back and encouraging regulators to exercise caution and perform a cost benefit analysis before adding to the burden Tagged BNN Ian Russell Industry commentary Video Comments Off on IIAC s Ian Russell Discusses State of Independent Dealers on BNN IIAC Blog China s Economic Turmoil Sends Ripples to Global Markets IIAC Blog China s Economic Turmoil Sends Ripples to Global Markets IIAC Blog At the invitation of the Hong Kong Trade Development Council HKTDC I led the Canadian delegation of 80 professionals to the 2016 Asian Financial Forum AFF in Hong Kong in January The Forum attracted

    Original URL path: http://iiac.ca/2016/02/ (2016-02-14)
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  • January, 2016 | IIAC
    of many small investment dealers and Continue reading Tagged Ian Russell Industry news OSC Comments Off on The IIAC Applauds Nomination of Maureen Jensen as Chair and Chief Executive Officer of the OSC IIAC Blog Cybersecurity in the Financial Industry Presentation IIAC Blog Cybersecurity in the Financial Industry Presentation IIAC Blog On November 9 2015 I had the pleasure of speaking at the Knowledge Bureau s Distinguished Advisor Conference The topic of my presentation was Cybersecurity in the Financial Industry I set out the six elements of an effective cybersecurity plan I described the sophistication and global dimensions of the cyber threat and the serious consequences of such an attack to firms and clients The presentation also gave me an opportunity to explain the IIAC s role in raising awareness and assisting dealer Member firms to put in place defenses to counter the cyber threat You can watch my presentation Tagged Cybersecurity Ian Russell Video Comments Off on Cybersecurity in the Financial Industry Presentation IIAC Blog IIAC Establishes Operations and Technology Committees IIAC Blog IIAC Establishes Operations and Technology Committees IIAC Blog The 2015 IIAC Survey of Investment Industry CEOs indicated that the biggest negative factor affecting the performance of our investment dealer Member firms has been the relentless rise in operating costs in recent years The high cost of technology to meet regulatory compliance and improve operating efficiencies has been a major factor Ninety per cent of firms surveyed said they expect to spend more or about the same on technology in 2016 than they did in 2015 The IIAC is establishing two Operations and Technology Committees the Equity Infrastructure Committee and the Market Data Committee and related working groups to assist Continue reading Tagged Industry info Operations Technology Comments Off on IIAC Establishes Operations and Technology Committees IIAC Blog Ian Russell on BNN Saving the TSX Venture Exchange IIAC Blog Ian Russell on BNN Saving the TSX Venture Exchange IIAC Blog Tagged BNN Ian Russell Industry commentary TSXV Video Comments Off on Ian Russell on BNN Saving the TSX Venture Exchange IIAC Blog Pulling Out the Stops to Rescue the TSX Venture Exchange IIAC Blog Pulling Out the Stops to Rescue the TSX Venture Exchange IIAC Blog The singular event that has drawn considerable attention to the investment industry during the past year has been the steady withdrawal of boutique dealers from IIROC registration through mergers and amalgamations the shuttering of operations or a shift to lighter registration notably Exempt Dealer status The plight of the small dealer boutique firm has coincided with the collapse of the public venture market the TSX Venture Exchange TSXV In my latest Letter from the President I discuss the issues facing small dealer boutique firms the factors contributing to the decline in the TSXV and the steps Continue reading Tagged Ian Russell Industry commentary Letter from the President TSXV Comments Off on Pulling Out the Stops to Rescue the TSX Venture Exchange IIAC Blog Cooperative Capital Markets Regulator Faces Opposition IIAC Blog

    Original URL path: http://iiac.ca/2016/01/ (2016-02-14)
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  • December, 2015 | IIAC
    Upcoming Events Webinars IIAC Investment Industry Hall of Fame IIAC Top Under 40 Award Take Our Kids to Work Day Compliance and Operations Symposium Small and Independent Dealers Symposium Cybersecurity Symposium Sponsorship Opportunities Hall of Fame Search Monthly Archives December 2015 Infographic Canada s Securities Industry At a Glance IIAC Blog Infographic Canada s Securities Industry At a Glance IIAC Blog The Investment Industry Association of Canada has developed an infographic that describes the salient features of our industry from the number of employees to the dimension of the capital markets business to taxes paid and charitable donations It is designed to convey the important contribution the investment industry makes to capital markets the economy and communities across Canada The information has been drawn from a variety of sources including Statistics Canada Investor Economics IIROC and a confidential survey of our members You may find the infographic useful and compelling in summarizing the characteristics of our industry to Continue reading Tagged Industry info Comments Off on Infographic Canada s Securities Industry At a Glance IIAC Blog Enhancing Corporate Bond Transparency IIAC Blog Enhancing Corporate Bond Transparency IIAC Blog In September 2015 the Canadian Securities Administrators CSA released its long awaited proposals to enhance corporate bond transparency In my December 2015 Letter from the President I discuss the existing CanPX transparency system and the flaws in the IIROC Market Trade Reporting System which was introduced on November 1 2015 before sharing my thoughts on the optimal transparency approach Highlights In striking a new direction for corporate bond transparency the CSA needs to ensure it understands the full implications of its proposed model and be convinced that the new approach reaches a better public interest objective The Continue reading Tagged CanPX Debt market transparency Ian Russell IIROC Letter from the President Comments

    Original URL path: http://iiac.ca/2015/12/ (2016-02-14)
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