Tag Archives: Submissions

CSA Proposals to Enhance Firms’ and Advisors’ Obligations Towards Clients (IIAC Blog)

CSA Proposals to Enhance Firms’ and Advisors’ Obligations Towards Clients (IIAC Blog)

The IIAC filed a submission with the Canadian Securities Administrators (CSA) in response to its Consultation Paper 33-404: Proposals to Enhance the Obligations of Advisers, Dealers, and Representatives Toward Their Clients.

The IIAC has carefully examined the Consultation Paper, identifying some areas of constructive reform, while questioning the merit of some proposals.

Please click here to view our news release. You can access our full submission here.

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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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The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP (IIAC Blog)

The IIAC Presents its Position to Government on a Voluntary Supplement to the CPP (IIAC Blog)

On July 13, the federal government opened a public consultation on options for a voluntary supplement to the CPP. While a number of recent studies have concluded that most working-age Canadians are on track to maintain their standard of living in retirement, the government said it is committed to exploring ways to give Canadians more choice in how they save.

Given the number of savings options already available in Canada, it is not clear that a voluntary CPP supplement is needed.

It may not even make sense. Voluntary supplemental pension plans generally involve contributions to individual accounts, … Continue reading

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What Does the IIAC Want To See in the 2016 Federal Budget? (IIAC Blog)

What Does the IIAC Want To See in the 2016 Federal Budget? (IIAC Blog)

The Investment industry Association of Canada (IIAC)’s pre-budget submission is now available online.

In its submission, the IIAC commended the federal government for its efforts to balance the books, improve the business tax landscape and make it more attractive for Canadians to save in TFSAs and RRIFs. 

At the same time, the IIAC noted that weak global economic conditions and depressed energy prices have placed a stranglehold on economic growth. The pullback in investment in the energy sector will reverberate across Canada. Also of concern is the fact that non-energy exports remain depressed, even after the Canadian dollar’s … Continue reading

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The IIAC Comments on Proposed Take-Over Bid Amendments (IIAC Blog)

The IIAC Comments on Proposed Take-Over Bid Amendments (IIAC Blog)

The IIAC submitted comments to the Ontario Securities Commission (OSC) on the proposed changes to the way in which unsolicited or hostile corporate take-over bids are carried out in Canada. The proposed changes to the rules aim to level the playing field between bidders and target boards and to provide additional protection to the existing shareholders of the target company. The IIAC supports the OSC’s objectives, but we have a concern about the extent of time bids must remain open.

In Canada, a company’s board of directors cannot reject a hostile bid without first giving shareholders … Continue reading

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IIAC’s Response to Proposed Guidance on Marketplace Thresholds (IIAC Blog)

IIAC’s Response to Proposed Guidance on Marketplace Thresholds (IIAC Blog)

The IIAC has submitted comments to the Investment Industry Regulatory Organization of Canada (IIROC) on the proposed guidance requiring Canadian exchanges and alternative trading systems to establish specific price thresholds that, when breached, would trigger a halt in trading in the event a particular stock experiences rapid and unexplained price movement over a short period of time.

The IIAC generally supports the principles of the guidance, but voiced significant concern with the requirement that dealers tailor their individual order flow so as to avoid exceeding the marketplace threshold for a particular security.

In our view, … Continue reading

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