Monthly Archives: August 2014

FP: Canada to have national market watchdog by next year— with or without provinces’ support

FP: Canada to have national market watchdog by next year— with or without provinces’ support

According to the Financial Post’s Gordon Isfeld, the federal government is “pushing ahead with draft legislation to create a national securities watchdog, although the rollout is slightly behind schedule and only four provinces have so far agreed to participate in the new body.

“The Co-operative Capital Markets Regulatory System is set to become a reality by mid-2015 — with or without the involvement of all 13 regulatory authorities now operating across Canada.”

The full article is available on FinancialPost.com.

 

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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.

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Investment Executive’s 2014 Advisors’ Report Card: The Industry’s Bracing for Major Regulatory Changes

Investment Executive’s 2014 Advisors’ Report Card: The Industry’s Bracing for Major Regulatory Changes

According to Investment Executive’s 2014 Advisors’ Report Card, firms are, for the most part, on the ball in helping their advisors deal with the major regulatory changes that are taking place in the financial advisory business by providing information and training in what advisors will need to do. 

More on this from Investment Executive’s Catherine Harris: 

Adapting a financial advisory business in order to comply with the various and constant changes taking place in the regulatory environment can be a trying task for many financial advisors. But an advisor’s firm can provide a lot of support in this … Continue reading

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IIAC’s Industry Job Board

IIAC’s Industry Job Board

Please visit the IIAC’s Industry Job Board.

To post a job to the IIAC’s Industry Job Board, email the job description, as a Word attachment or PDF, to info@iiac.ca. Posting on our Job Board is free of charge. Please remember to include any relevant information such as the closing date and application instructions. You will be notified by email once the job is posted. For more information, please contact us.

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Ontario Government Issues RFP for Investment Dealer Services

Ontario Government Issues RFP for Investment Dealer Services

The IIAC has been notified that the Public Guardian and Trustee for Ontario (OPGT) recently issued the following Request for Proposal:

 

The Public Guardian and Trustee for Ontario (OPGT) requires the services of an investment dealer to manage the registered and other investment accounts of clients that must be held with an investment dealer. Currently the OPGT has almost 12,000 clients, with 5,600 of these clients holding approximately 7,000 accounts at investment dealers. 

Scope of Work

The OPGT requires the following services:

1. Account servicing, including … Continue reading

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CFA Institute: Claritas Program Scholarships for Media Now Available

CFA Institute: Claritas Program Scholarships for Media Now Available

Do you know someone in the media who’s interested in enhancing their knowledge of the investment industry?  If so, you’ll want to pass this along:

According to CFA Institute, its Claritas® Program offers “a clear understanding of the global investment industry, including the essentials of finance, ethics, and investment roles and responsibilities”.

Media Scholarship Details Reduces the Claritas registration fee to US$300 (from US$685)* Available to qualified members of the media, including reporters, journalists, and others who disseminate financial news, data, and education.

*Includes the registration fee for one exam sitting and access to all study materials and tools.

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Ian Russell to Participate in IIROC’s Annual Compliance Conference

Ian Russell to Participate in IIROC’s Annual Compliance Conference

Ian Russell, IIAC President and CEO, will participate in a panel session at IIROC’s Annual Compliance Conference on Thursday, September 18, 2014. The session is called, Evolving Environment for Industry & Investors, and will examine how over the past decade there have been fundamental changes taking place within the investment industry and the investor environment.  

This panel will focus on a high level discussion about the evolution of the industry and current trends, many of which are shaped by changing demographics, retirement patterns, investor behavior and consumer demands. 

Joining Mr. Russell on this panel are Goshka Folda, Senior Managing Director, … Continue reading

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Ian Russell With an Update on Global Regulatory Initiatives

Ian Russell With an Update on Global Regulatory Initiatives

IIAC President and CEO Ian Russell’s latest Letter from the Presidentaddresses current priorities of global regulators, including cross-border rules harmonization, corporate governance shortcomings, and the role of regulators in enhancing ethical standards.

“The extensive effort to regulate trading and clearing of securities in OTC derivatives markets has been held up as the archetypal case of poor coordination among domestic regulators,” says Mr. Russell. It’s resulted in “different and sometimes conflicting rules and requirements for similar trading and clearing transactions across jurisdictions, adding unnecessarily to compliance costs and market inefficiencies, and fragmenting what had been a closely-linked global market in OTC … Continue reading

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CP: What Canadians Need to Know About TFSAs

CP: What Canadians Need to Know About TFSAs

The Canadian Press’ Dean Beeby provides the following plain-language explanation regarding what you can – and can’t do – with your TFSA:

 

A tricky rule keeps tripping up thousands of Canadians who make withdrawals from their tax-free savings accounts, and replace the money too early.

 

Some 54,700 taxpayers got warning packages from the Canada Revenue Agency earlier this year about the problem affecting the 2013 taxation year, and were told they face a penalty.

The number has been … Continue reading

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Why it’s Important to do Business with an IIAC Member Firm

Why it’s Important to do Business with an IIAC Member Firm

The Canadian Foundation for the Advancement of Investor Rights – a.k.a. FAIR Canada – recently released a report which provides “an overview of the types of securities fraud that affect retail investors”.  

One key finding involved a review of enforcement cases concluded in 2012 by members of the Canadian Securities Administrators (the umbrella group for provincial and territorial securities regulators):  FAIR rightly concludes that a significant portion of securities fraud enforcement cases involved unregistered individuals. This finding was reinforced during stakeholder interviews, where interviewees commented that investment fraud tends to be perpetrated by non-registrants more often than registrants … Continue reading

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