IIAC President and CEO, Ian Russell, testified before the House of Commons Standing Committee on Finance on the five-year statutory review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
In light of important obligations member firms have under the PCMLTFA and its Regulations, he made a number of recommendations to improve the effectiveness of the legislative framework, facilitate the obligations of reporting entities, and minimize the compliance burden. Among the recommendations, he called on the federal government to:
– Work with the provinces and territories to harmonize beneficial ownership information standards across Canada and in federal … Continue reading
Canada’s Investment Industry: A Year in Review (IIAC Blog)
Canada’s Investment Industry: A Year in Review (IIAC Blog)
My latest Letter from the President examines year-end 2017 securities industry statistics, the challenges faced by large and small investment dealers, and the outlook for the mainline businesses and firm groupings.
Overall, the industry turned in a mixed earnings performance last year. Fee-based business powered retail earnings. The self-clearing retail firms recorded the highest earnings in three years, while the institutional boutiques fared the worst. Falling share values contributed to weak investment banking results in the last months of 2017, and dragged down earnings at the integrated dealers, even though corporate advisory fees held up … Continue reading →
Tagged: Industry commentary industry trends Letter from the President
Comments Off on Canada’s Investment Industry: A Year in Review (IIAC Blog)