Tag Archives: Industry news

FS-ISAC Collaborates with IIAC and SIFMA on First Monthly Update on Cybersecurity (IIAC Blog)

FS-ISAC Collaborates with IIAC and SIFMA on First Monthly Update on Cybersecurity (IIAC Blog)

The Financial Services Information Sharing and Analysis Center (FS-ISAC), the Investment Industry Association of Canada (IIAC) and the Securities Industry Financial Markets Association (SIFMA) are working together to provide to you a monthly newsletter that highlights cybersecurity topics and emerging threats to the securities industry within North America.

The information provided in the monthly newsletter is intended to increase the cybersecurity awareness of an organization’s end users and to help them behave in a more secure manner.

The October issue is available here.

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Client’s Best Interest Not Effectively Achieved by a Specific Rule or Regulation (IIAC Blog)

Client’s Best Interest Not Effectively Achieved by a Specific Rule or Regulation (IIAC Blog)

Professor Mary Condon, former Commissioner of the Ontario Securities Commission (OSC), wrote an Op-Ed in the July 2016 issue of Investment Executive (IE) outlining the OSC’s position on the “best interest” standard.

She argued eloquently that a client best interest standard should be imposed on financial advisors and investment dealers. In her words, investors deserve no less. Condon puts it succinctly: a best interest standard “puts the client’s interests first” in all dealings.

The IIAC weighed in. In a Letter to the Editor I argued regulators should get the rules, guideposts and right culture in place, … Continue reading

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John Chambers, CEO of FirstEnergy Capital, Elected Chair of the IIAC Board of Directors (IIAC Blog)

John Chambers, CEO of FirstEnergy Capital, Elected Chair of the IIAC Board of Directors (IIAC Blog)

The Investment Industry Association of Canada (IIAC) is pleased to announce the election of John Chambers, CEO of FirstEnergy Capital Corp., as Board Chair of the IIAC.

Sandy Cimoroni, SVP, Shared Services & Chief Operating Officer, TD Wealth, has been elected Vice Chair.

“I am honoured to take on the role of IIAC Board Chair at this watershed moment for Canada’s investment industry,” said Mr. Chambers. “Our industry continues to face challenges brought on by sweeping regulatory reform, but under our Board’s leadership, the IIAC will continue to play a constructive role helping regulators and governments ensure rules are properly … Continue reading

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Letters to the Editor: BCSC stance on “best interests” not divisive

Letters to the Editor: BCSC stance on “best interests” not divisive

The Staff Editorial in the June 2016 issue of Investment Executive (IE) criticized the motives of the British Columbia Securities Commission (BCSC) in its decision not to consult on a “best interest” standard. The IIAC took issue with this position in a Letter to the Editor.

The editorial alleges that the BCSC is unwilling to consider the merits of an overarching client “best interest” standard on the grounds that it has decided not to solicit opinion on the “best interest” standard in the April, 2016 Canadian Securities Administrators (CSA) Consultation Paper. It also alleges that … Continue reading

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Ian Russell Re-Appointed Chair of the International Council of Securities Associations (IIAC Blog)

Ian Russell Re-Appointed Chair of the International Council of Securities Associations (IIAC Blog)

I am honoured that I have been re-appointed Chair of the International Council of Securities Associations (ICSA) for a one-year term at its Annual General Meeting in Stockholm, Sweden.

I view this as a strong opportunity to raise awareness of not only ICSA’s role in promoting efficient and well-functioning securities markets and the efficient flow of cross-border capital, but to elevate the profile of the Canadian securities industry and our capital markets as well.

At the ICSA AGM, members discussed issues and initiatives on topics including market liquidity, culture and conduct, cross border regulation, and cybersecurity. … Continue reading

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International Council of Securities Associations Launches New Website (IIAC Blog)

International Council of Securities Associations Launches New Website (IIAC Blog)

In addition to serving as President and CEO of the Investment Industry Association of Canada (IIAC), I am also honoured to serve as Chairman of the International Council of Securities Associations (ICSA).

ICSA is the global organization of securities industry associations representing securities firms operating in domestic and cross-border markets across the globe, including North America, Europe, East and West Asia, and Latin America. A complete list of ICSA members can be found here.

ICSA advocates appropriate regulatory reform and public policy initiatives across jurisdictions to promote efficient and well-functioning securities markets and the efficient … Continue reading

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The IIAC Applauds Nomination of Maureen Jensen as Chair and Chief Executive Officer of the OSC (IIAC Blog)

The IIAC Applauds Nomination of Maureen Jensen as Chair and Chief Executive Officer of the OSC (IIAC Blog)

The Investment Industry Association of Canada (IIAC) congratulates Maureen Jensen on her nomination as Chair and Chief Executive Officer of the Ontario Securities Commission (OSC).

Ms. Jensen has a deep background in securities regulation, broad business experience, and tested management skills. Her nomination makes eminent good sense. She brings leadership to guide the OSC at a critical juncture—assessing the impact of recent extensive reform and rule-making; working though the transition to a cooperative securities regulator; and finding the right response to the tumultuous and uncertain capital markets, the widespread loss of many small investment dealers and … Continue reading

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Mr. Grant Vingoe Appointed As A New Vice Chair of the OSC (IIOC Blog)

Mr. Grant Vingoe Appointed As A New Vice Chair of the OSC (IIOC Blog)

The Investment Industry Association of Canada (IIAC) is delighted with the announcement that Mr. Grant Vingoe has been named as a new Vice Chairman of the Ontario Securities Commission (OSC).

Mr. Vingoe is a highly respected and accomplished securities lawyer. He was most recently a Partner with the law firm Norton Rose Fulbright US LLP in New York, with his professional duties dedicated to cross-border securities transactions and financial services regulation. He has been deeply involved in regulatory policy matters for the Canadian securities industry and has advised firms on ongoing compliance, governance, and risk management issues. He has also advised senior management of … Continue reading

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Sarah P. Bradley Appointed Ombudsman and CEO of OBSI (IIAC Blog)

Sarah P. Bradley Appointed Ombudsman and CEO of OBSI (IIAC Blog)

The Investment Industry Association of Canada (IIAC) congratulates Ms.  Sarah P. Bradley on her appointment as Ombudsman and CEO of OBSI—The Ombudsman for Banking Services and Investments.

Ms. Bradley is a highly respected regulator and well experienced in securities regulation, public policy development, business law and governance, business fiduciary obligations and commercial law. Ms. Bradley served most recently as the Chair and CEO of the Nova Scotia Securities Commission (NSSC), is a former Vice-Chair of the Canadian Securities Administrators, and has been a representative on the Canadian Joint Forum of Financial Regulators. She is also an Associate Professor … Continue reading

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Bill Black Appointed Chair of the Capital Markets Regulatory Authority (IIAC Blog)

Bill Black Appointed Chair of the Capital Markets Regulatory Authority (IIAC Blog)

Today, the Ministers responsible for capital markets regulation in British Columbia, Ontario, Saskatchewan, New Brunswick, Prince Edward Island, Yukon and the federal Minister of Finance – together representing the Council of Ministers – announced  that William “Bill” A. Black has been appointed Chair of the Board of Directors of the Capital Markets Regulatory Authority.

Bill Black is an excellent choice. He is recognized as a proven leader in the business community with a career that spanned 34 years at Maritime Life, including nine years as President and Chief Executive Officer. He has the requisite knowledge and experience in financial markets, has worked … Continue reading

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