Monthly Archives: September 2015

What’s in Store for Canada’s Investment Industry (IIAC Blog)

What’s in Store for Canada’s Investment Industry (IIAC Blog)

Since early 2013, Canada’s investment industry has shown a promising turnaround in fortunes. Revenue and profit improved decisively in 2014 (up 15% and 29%, respectively, year-over-year), and were well above the 2006-07 bull market averages. However, first half 2015 results dashed hopes for a sustained earnings breakout – revenue was up 3% year-over-year, but operating profits were down 5% in H1 2015.

If business conditions in the second half of 2015 stay roughly in line with the first half, the IIAC forecasts the following for 2015 as whole:

* Operating revenue and profit at the integrated firms are expected to increase 6% and … Continue reading

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Fiduciary Standard for Advisors Not the Answer (IIAC Blog)

Fiduciary Standard for Advisors Not the Answer (IIAC Blog)

The Canadian Securities Administrators (CSA) has focused on fiduciary duty to ensure dealers and their advisors act in the best interests of their client. Acting in a client’s best interest means ensuring client interests are paramount; conflicts of interest are avoided; clients are not exploited; clients are provided with full disclosure; and services are performed reasonably prudently.

In my letter to the editor appearing in the October 2015 edition of Investment Executive, I noted that Canada’s investment industry fully supports a high standard of conduct for retail advisors. Industry efforts over the past four years to … Continue reading

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Investment Industry Calls for Regulation of All Financial Planners (IIAC blog)

Investment Industry Calls for Regulation of All Financial Planners (IIAC blog)

In a joint submission, the Investment Industry Association of Canada (IIAC) and the Investment Funds Institute of Canada (IFIC) have called on the Ontario government to pass legislation that would regulate all financial planners.

Securities and insurance advisory services as Insurance Partnership are planning that are ancillary to product recommendations are already well-regulated in Ontario, but there are gaps in non-product-related financial planning that need to be addressed for the benefit of investors.

The IIAC/IFIC have called on the Ontario government to establish common standards for those individuals providing comprehensive financial plans … Continue reading

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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

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School is Back in Session: Register a Grade 9 Student for Take Our Kids to Work Day™ on November 4 (IIAC Blog)

School is Back in Session: Register a Grade 9 Student for Take Our Kids to Work Day™ on November 4 (IIAC Blog)

The IIAC is pleased to be participating in this year’s Take Our Kids to Work Day™ on Wednesday, November 4, 2015.

The IIAC’s Toronto office will once again be hosting one-hour workshops to educate students about Canada’s capital markets and securities industry and the many career opportunities they provide. Students may choose to attend either the morning or afternoon session.

Note: The sessions are open to any Grade 9 student related to an employee of an IIAC member firm.

To register, please email your completed form to rsvp@iiac.ca.

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