Tag Archives: Industry news

Why fewer companies are listing? (IIAC Blog)

Why fewer companies are listing? (IIAC Blog)

I appeared on Business In Vancouver Radio to discuss the factors that have contributed to fewer companies going public, a trend occurring in Canada, the U.S., and Europe.

The high costs associated with listing on the exchanges and meeting ongoing reporting issuer responsibilities (i.e. disclosure and corporate governance requirements) are keeping many companies from tapping the public markets. Coupled with this, regulatory changes in the various jurisdictions have made it easier for companies to go private. Also, private equity firms are playing a larger role in the market, providing financing, and in the M&A space, buying out … Continue reading

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Congratulations to the 2017 IIAC Top Under 40 Award Nominees (IIAC Blog)

Congratulations to the 2017 IIAC Top Under 40 Award Nominees (IIAC Blog)

The IIAC Top Under 40 Award recognizes and celebrates the new generation of highly motivated and talented young professionals whose drive, dedication, qualities and accomplishments have brought distinction to Canada’s investment industry.

The 2017 Award nominees are featured in full-page ads appearing in the September editions of Investment Executive and Finance et Investissement. Access a high-resolution version of the English ad here

The nominees will be formally recognized at the IIAC Top Under 40 Award Judges’ Luncheon on October 26 in Toronto, where the 2017 Award recipient will be announced.

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Statement by Ian Russell on the passing of Stan Deudney (IIAC Blog)

Statement by Ian Russell on the passing of Stan Deudney (IIAC Blog)

In Memoriam: We, at the IIAC, are deeply saddened by the passing of Stan Deudney. Mr. Deudney was actively engaged in bringing innovation and new era solutions to the investment industry in Canada and international markets for more than 25 years. He also raised the bar for financial industry education, teaching and mentoring students at the Smarten Up Institute. 

Stan was instrumental in the development of Canadian Depository for Securities (CDS), where he served as its first president. Today, CDS is there for the vast majority of securities traded in Canada. He also launched one of Canada’s first discount brokerages, created the … Continue reading

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Charyl Galpin of BMO Nesbitt Burns Appointed IIAC Board Chair (IIAC Blog)

Charyl Galpin of BMO Nesbitt Burns Appointed IIAC Board Chair (IIAC Blog)

The Investment Industry Association of Canada (IIAC) is pleased to announce that Charyl Galpin, EVP & Managing Director, Head, Private Client Division, BMO Nesbitt Burns Inc., has been appointed Chair of the IIAC’s Board of Directors for 2017-18. She is the first woman in the IIAC’s history to serve in this capacity.

Steven Donald, President, Assante Wealth Management Ltd., was appointed Vice-Chair for 2017-18.

Ms. Galpin, who joined the IIAC Board in 2015, is already one of the most influential women in corporate Canada. She was named one of Canada’s Top 100 Most Powerful Women of 2014 by the … Continue reading

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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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