Monthly Archives: May 2014

10 Best Finance Books That Industry Titans Read

10 Best Finance Books That Industry Titans Read

It’s summer and (hopefully) time to catch up on some reading.  According to lifehack.org, here are the top 10 go-to books on finance.  The list includes The Intelligent Investor of Practical Counsel by Benjamin Graham and Jason Zweig. Written in 1949, Warren Buffet has turned to this book often.

“Chapters 8 and 20 have been the bedrock of my investing activities for more than 60 years,” he says.

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IIROC receives approval to implement CRM2

IIROC receives approval to implement CRM2

The Investment Industry Regulatory Organization of Canada (IIROC) has received approval from the Canadian Securities Administrators (CSA) to implement the next set of new Client Relationship Model (CRM) amendments that take effect July 15, 2014.

The approved changes relate to the first series of changes as part of CRM2, including:

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Ian Russell: CCMR will be more sensitive to individual provinces than existing system

Ian Russell: CCMR will be more sensitive to individual provinces than existing system

In an interview with Scott Larson of Saskatoon-based The Star Phoenix, Ian Russell said, “if Saskatchewan backs the federal proposal for a voluntary national securities regulator, it could become a reality within a year”. 

“Saskatchewan is the catalyst to start operations,” he said.

The article went on to say that “Saskatchewan would be the third province, joining Ontario and B.C., in the proposed Cooperative Capital Markets Regulator (CCMR), which would replace the existing “passport” system of harmonized rules and regulations among the 13 provincial and territorial securities regulators in the country”. 

Russell is a longtime proponent of the CCMR … Continue reading

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For tech-savvy travellers, flying in Canada is about to get a little bit friendlier

For tech-savvy travellers, flying in Canada is about to get a little bit friendlier

Airline passengers will soon be able to use their electronic devices from takeoff to landing. 

Transport Minister Lisa Raitt announced yesterday that airline passengers will be able to use their portable electronic devices — including cameras, tablets, gaming consoles and computers — during takeoff, ascent, descent and landing of a flight, as long as the devices are in non-transmitting, or flight mode. 

Previously, passengers couldn’t use their devices during takeoff and landing.

Cellphones and smartphones, which are transmitting devices, can only be used in normal mode as planes taxi to their gates. If on flight mode, phones can also be used … Continue reading

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PMAC Awards for Excellence in Investment Journalism Winners Announced

PMAC Awards for Excellence in Investment Journalism Winners Announced

The Portfolio Management Association of Canada (PMAC) recently announced the winners of its PMAC Awards for Excellence in Investment Journalism. 

The PMAC Awards promote and reward the best in Canadian newspaper, magazine and online journalism; foster a better understanding of the investment industry, its products and services; and aim to improve financial literacy in Canada. 

And the winners are:  

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Ian Russell Participates on Panel at Harvard University’s Capital Markets Symposium

Ian Russell Participates on Panel at Harvard University’s Capital Markets Symposium

Canada and Australia have earned praise for the relative strength of their financial systems since the 2008 global financial crisis. At a capital markets symposium hosted by Harvard University, Ian Russell, IIAC president and CEO, participated  today in a panel session, entitled “From the Outside Looking In: Industry and Regulatory Perspectives”, and provided the Canadian perspective on whether our experience represents better regulatory design, more effective regulatory frameworks, and/or the embedding of restraint, linked to broader cultural dynamics.

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CSA and IIROC Request Comments on Proposed Amendments to Order Protection Rule (OPR)

CSA and IIROC Request Comments on Proposed Amendments to Order Protection Rule (OPR)

  IIAC seeks volunteers for Working Group

On May 15, 2014, the Canadian Securities Administrators (CSA) published for comment proposed amendments to National Instrument 23-101 Trading Rules (NI 23-101). The proposals seek to address certain costs and inefficiencies related to the current application of OPR, as well as concerns related to trading fees and market data fees. IIROC concurrently issued proposed amendments to the Universal Market Integrity Rules (UMIR) that align with the CSA proposal. Under the proposed amendments, orders would be protected where displayed on a marketplace that has met certain criteria set out in the … Continue reading

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Spreading the (good) word…

Spreading the (good) word…

The Globe and Mail’s Rob Carrick is asking his Facebook followers to “spread the word about a financial industry person who has done good work for you – investment adviser, financial planner, broker, banker, mortgage broker, accountant or insurance person”.

Although this isn’t exclusively about the investment industry, it still makes for an interesting read and provides further evidence that clients of IIAC member firms are well served!

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Stay tuned for an announcement regarding the 2014 IIAC Investment Industry Hall of Fame Inductees!

Stay tuned for an announcement regarding the 2014 IIAC Investment Industry Hall of Fame Inductees!

With nominations now closed for the IIAC Investment Industry Hall of Fame, we wanted to provide an update regarding the timing of the Inductee announcement.  Members of the Selection Committee will spend the next several weeks reviewing the nominations and are scheduled to make their selections by mid-June.  The Inductees will then be notified by Ian Russell, IIAC President and CEO.  An announcement will be issued by no later than the end of June.

 

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The IIAC, along with IFIC and Osler, Hoskin & Harcourt LLP, will host a CASL Compliance webinar at 2:00 p.m. ET on June 11, 2014.  The webinar will address compliance issues and strategies relating to the Canadian Anti-Spam Legislation that will take effect July 2014. 

Webinar details: 

Date: Wednesday, June 11, 2014                    

Time: 2:00 p.m to 3:00 p.m. (ET) 

Topics will include: 

An overview of the CASL Toolkit Primer recently posted to both the IIAC’s and IFIC’s members-only websites; Responses to questions received from IFIC and IIAC about certain … Continue reading

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