Monthly Archives: April 2015

IIAC on LinkedIn

IIAC on LinkedIn

 

 

For the latest IIAC news, events, industry job openings and more, be sure to “follow” us on LinkedIn using the search term “Investment Industry Association of Canada”. 

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2015 IIAC Cybersecurity Conference

2015 IIAC Cybersecurity Conference

Date:  June 4, 2015Time:  7:45 am – 5:00 pmPlace:  St. Andrews Club and Conference Centre150 King Street West, 16th Floor (Garden Room), Toronto

Featuring Keynote Speaker Michael Calce a.k.a. Mafiaboy

Hear first-hand from Michael Calce who, at age 15, brought down the world’s largest websites and caused $1.2 billion in damages by crashing the websites of Amazon, CNN, Dell, E*Trade, eBay, and Yahoo!.  His actions – which were eventually stopped following a major FBI sting operation – incited panic from Silicon Valley to the White House.  Michael Calce’s story is a captivating behind-the scenes tour of hacking and proof … Continue reading

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IIAC 2015 Federal Budget Summary

IIAC 2015 Federal Budget Summary

The IIAC has prepared a detailed analysis of yesterday’s federal Budget from the investment industry’s perspective.  Included in the summary are details on:

*Balancing the federal budget and the economic outlook

*Improving retirement and savings programs

*Cooperative Capital Markets Regulatory System (CCMRS)

*Encouraging business investment and access to finance

*Updates on tax compliance / tax avoidance measures

*Strengthening the consumer protection framework for banks and financial literacy

*Encouraging charitable donation of private shares

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IIAC Federal Budget Media Coverage

IIAC Federal Budget Media Coverage

Ian Russell, IIAC President and CEO, conducted numerous media interviews following the unveiling of yesterday’s federal budget.  Media were particularly interested in his perspectives on the doubling of the maximum annual TFSA contribution and new minimum withdrawal rules for RRIFs.

As seen on BNN:

Ian Russell, the president of the Investment Industry Association of Canada says the $650 million hit to tax coffers over the next 20 years caused by nearly doubling the maximum annual TFSA contribution works out to 0.3 percent to total government revenue, a number that doesn’t take into account the reinvestment of those savings into the … Continue reading

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IIAC Applauds Measures to Strengthen Retirement Savings Programs

IIAC Applauds Measures to Strengthen Retirement Savings Programs

Disciplined reforms combined with balanced budget will boost investment and growth 

On behalf of the Investment Industry Association of Canada (IIAC)’s 147 investment dealer member firms, Ian Russell, IIAC President and CEO, strongly endorses measures announced in today’s federal budget to strengthen Canada’s retirement savings programs, including an increase in the annual limit for contributions to Tax-Free Savings Accounts (TFSAs) and a significant reduction in the Registered Retirement Income Funds (RRIFs) minimum annual withdrawal amounts. “These combined changes represent the most cost-effective approach to strengthening the retirement savings process for all Canadians,” Russell says.  

“The government’s move to … Continue reading

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Today’s Federal Budget: What the IIAC Will be Looking For

Today’s Federal Budget: What the IIAC Will be Looking For

Ian Russell, IIAC President and CEO, will be in the federal budget lock-up today before providing reaction to media on behalf of Canada’s investment industry and capital markets.

Russell will be looking to see if the budget contains measures aimed at strengthening Canada’s retirement savings programs, including increases to the annual limit for Tax-Free Savings Account (TFSA) contributions and reforms to Registered Retirement Income Funds (RRIFs).  The IIAC provided specific recommendations on both fronts in its pre-budget submission

Russell says the IIAC’s 147 investment dealer member firms will also be looking to see whether the government delivers on its commitment to … Continue reading

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IIAC Will Respond to the Federal Budget

IIAC Will Respond to the Federal Budget

Be sure to check back tomorrow after 4:00 p.m. ET for the IIAC’s response to Finance Minister Joe Oliver’s inaugural federal budget.

 

 

 

 

 

 

As part of a time-honoured tradition that sees federal finance ministers purchasing a new pair of shoes on the eve of budget day, Oliver picked his out earlier today.

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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 reading

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The IIAC Supports Doubling the Limit for TFSAs

The IIAC Supports Doubling the Limit for TFSAs

According to numerous media accounts breaking this morning, Finance Minister Joe Oliver is hinting that his upcoming budget will double the limit for tax-free savings accounts (TFSAs). 

In fact, BNN has confirmed the contents of a letter written by the finance minister where he says the TFSA changes are going to happen.

If true, the move would be applauded by the IIAC. 

In a recent Financial Post guest column, IIAC President and CEO Ian Russell outlined why:  “The TFSA isn’t just a popular savings instrument among Canadians, especially for many middle-income Canadians facing retirement. It is also an economic … Continue reading

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This Week in Financial History

This Week in Financial History

For the Week of April 6, 2015

April 6

1851 – The 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

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