Monthly Archives: January 2015

Canadian Securities Administrators (CSA) Approves IIROC 2015 and 2016 CRM2 Rules – Book Cost Outstanding

Canadian Securities Administrators (CSA) Approves IIROC 2015 and 2016 CRM2 Rules – Book Cost Outstanding

On January 19, 2015, IIROC announced that the CSA had approved IIROC 2015 and 2016 CRM2 rules.  IIROC dealers had already implemented 2014 CRM2 requirements, worked extensively on 2015 and 2016 implementation, and done as much of the analytical work as possible for CRM2 components where significant uncertainty remained, but major development work for 2015 couldn’t be planned further without final CRM2 rules.  This delay compressed the two years the CSA had allotted for July 15, 2015 CRM2 rule implementation to less than six months.  This is a time compression of 75%.

The final rules are good news.  Questions regarding … Continue reading

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Outlook for Canadian and Global Capital Markets in 2015: Optimism has Returned According to Canada’s Investment Dealer CEOs

Outlook for Canadian and Global Capital Markets in 2015: Optimism has Returned According to Canada’s Investment Dealer CEOs

More than two-thirds of CEOs are predicting higher firm profitability

Toronto, Thursday, January 8, 2015 – Survey results released today by the Investment Industry Association of Canada (IIAC) show that Canada’s investment industry leaders are optimistic about the outlook for capital markets and their individual firms in the coming year.

According to IIAC 2015 Capital Markets Outlook:  A Survey of Canada’s Investment Industry CEOs, 87 per cent of CEO respondents are forecasting status quo or improved conditions for global capital markets in the year ahead while 81 per cent share this outlook for Canada’s markets.

“These results presage attractive … Continue reading

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IIAC Top Under 40 Award: Nominations Now Being Accepted

IIAC Top Under 40 Award: Nominations Now Being Accepted

Established in 2013 by the Smarten Up Institute, in collaboration with the Investment Industry Association of Canada, the IIAC Top Under 40 Award is designed to celebrate an individual whose drive, dedication, and personal and professional qualities render him or her capable of having a positive influence on the investment industry early in his/her professional life.

One recipient will be awarded the opportunity to work alongside one of the top industry leaders for a one week period in association with the Smarten Up Institute’s Mentor Program®.  A real benefit is the rare opportunity for a young ‘up and comer’ … Continue reading

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CFA Institute Member Survey Finds Mixed Response to Proposed SEC CEO Pay Ratio Rule

CFA Institute Member Survey Finds Mixed Response to Proposed SEC CEO Pay Ratio Rule

CFA Institute recently asked its members to weigh in on the issue of pay disclosure ratios at companies listed with the SEC. (By way of background, the SEC recently voted 3-2 to propose rules on this front.)

Here’s what Matt Orsagh, CFA, CIPM, and a director of capital markets policy at CFA Institute, had to say about the (interesting) results: 

The SEC proposal would require companies to disclose CEOs’ total compensation as a multiple of median total worker pay. Total compensation would include salary, bonus, stock-and-option awards, long-term incentive pay, and change in pension value. 

In an informal … Continue reading

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