Monthly Archives: March 2018

President & CEO Testifies Before House of Commons Finance Committee re: Canada’s AML/ATF Regime (IIAC Blog)

President & CEO Testifies Before House of Commons Finance Committee re: Canada’s AML/ATF Regime (IIAC Blog)

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

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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

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OSC Seniors Strategy (IIAC Blog)

OSC Seniors Strategy (IIAC Blog)

Today, the Ontario Securities Commission (OSC) released its Seniors Strategy, embracing multiple tools (i.e. targeted policy, operational, research and educational initiatives) to foster a stronger and more secure financial future for Ontario’s seniors.

The IIAC applauds the OSC on its continued efforts to protect seniors from financial exploitation and fraud and address the challenges stemming from diminished mental capacity later in life. The OSC’s Seniors Strategy has the benefit of being both flexible and responsive to the changing needs of older individuals, allowing member firms to exercise judgement based on the particular situation, while keeping appropriate investor protection measures … Continue reading

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IIAC seeks nominations for the 2018 IIAC Top Under 40 Award (IIAC Blog)

IIAC seeks nominations for the 2018 IIAC Top Under 40 Award (IIAC Blog)

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

The caliber of past nominees and Award recipients has been truly excellent and portends a bright future for the securities industry. Their passion for the investment business and commitment to giving back is worthy of acclaim. We are calling on members of the public to put forth the names of outstanding individuals for consideration for this year’s Award. Submit your nomination … Continue reading

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