Monthly Archives: July 2015

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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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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The IIAC Responds to IIROC’s Proposed Amendments Re: Unprotected Transparent Marketplaces and the Order Protection Rule (IIAC Blog)

The IIAC Responds to IIROC’s Proposed Amendments Re: Unprotected Transparent Marketplaces and the Order Protection Rule (IIAC Blog)

In April 2015, the Ontario Securities Commission (OSC) approved changes to the TSX Alpha Exchange trading model. Effective September 2015, Alpha will apply a short processing delay (a speed bump) on orders to counter high-frequency trading and limit fleeting liquidity. Additionally, orders displayed in the Alpha order book will no longer be protected from trade-through (i.e. the execution of an order at a price that is inferior to a displayed bid price or higher than a displayed offer price) under the Order Protection Rule (OPR). 

In response, the Investment Industry Regulatory Organization of Canada (IIROC) announced … Continue reading →

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Federal Government Consulting on a Voluntary Supplement to the CPP (IIAC Blog)

Federal Government Consulting on a Voluntary Supplement to the CPP (IIAC Blog)

Finance Minister Joe Oliver announced that the Government of Canada will consult with individuals, the financial sector, retirement income experts and other stakeholders on options for a voluntary supplement to the Canada Pension Plan (CPP). Discussion points for consultation include:

Whether a voluntary supplement to the CPP should be an option for Canadians to save for retirement.  Possible design features that could facilitate voluntary participation. The level of flexibility that should be permitted for participants. Key issues related to flexibility are the locking-in of contributions and establishing appropriate limits on contributions. The level of portability. The role, if any, employers might … Continue reading →

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