In Memoriam: It is with profound sadness we observe the passing of Benoit Lauzé, after a long struggle with cancer.
Benoit was a much-admired member of the investment community, and a respected member of the IIAC Board of Directors. His presence will be profoundly missed.
Benoit spent much of his career at CIBC Wood Gundy in Toronto. After a move back to Montreal, he joined the Investment Banking Department of CIBC, gradually assuming different leadership roles, before returning to Toronto as Head of CIBC’s Equity Capital Markets desk.
In both his professional and personal life Benoit was known for his enthusiasm and passion, his keen mind, and his collaborative ways.
His contributions to the functioning of the IIAC board will continue to be felt in the ongoing camaraderie and dedication of its members.
The IIAC wishes to express their deepest condolences to Benoit’s family.
Essential Services status for investment industry, provinces of Ontario and Quebec, British Columbia
• The Government of Quebec has confirmed that investment dealers are included in essential services.
• The Government of Ontario has confirmed that investment dealers are included in essential services.
This status gives firms the ability to access their facilities, and to continue to serve their clients. However, it does not mandate personnel to be on-site. The IIAC is continuing operations with staff working from home, and visits to the office carried out only as strictly necessary.
The essential services lists for both provinces can be found at the links below.
IIROC’s communication regarding Ontario essential services can be found at the link below, including confirmation that the “capital markets” item in the essential services list published covers the operations of IIROC-member investment dealers. Investment dealers in Quebec have received a similar carve-out as an essential service.
The B.C. government has declared capital markets, including the British Columbia Securities Commission (BCSC), to be essential services during the COVID-19 pandemic. For more information see link below:
Structural change in investment industry will break loose this coming year as competitive conditions intensify
My latest President’s Letter describes the difficulties for small and mid-sized dealers to access external capital to build operating scale to compete in the retail marketplace. The impending changes toward regulatory consolidation, such as SRO amalgamation, and related significant cost-savings, will place even more competitive pressures on small firms. Regulators need to redouble efforts to focus on proportionate regulation and “scalability” versions of core regulations.
IIAC Securities Industry & Capital Markets Chartbook 2009-2018
The Investment Industry Association of Canada (IIAC) is pleased to provide this Chartbook illustrating the major trends shaping Canada’s securities industry and capital markets over the past decade.
Through the financial crisis industry performance suffered as investment dealers succumbed to market headwinds and unfavourable business conditions. The result was a significant restructuring of Canada’s securities industry marked by dealer consolidation, reduced employment and changes to dealer business models.
However, the industry has proven resilient, not only regaining lost ground but achieving new heights on many notable fronts.
The IIAC Chartbook illustrations reveal that the industry has played a pivotal role in expanding Canadian financial markets over the past decade and supporting the growing capital needs of the country’s governments and businesses – essential building blocks for a prosperous economy. With more than $2.5 trillion in client assets under management the industry has become a key channel for accumulating and growing investor savings.
Changing demographics, new regulations, market and macroeconomic uncertainty and the growth of digital-advice and Financial Technology (Fintech) will be just some of the forces to shape the Canadian securities industry in the years ahead. The IIAC will monitor closely how the industry confronts these challenges and we look forward to sharing our observations in a future edition of this Chartbook.
IIAC Congratulates the 2019 Investment Industry Hall of Fame Inductees, as well as the IIAC Top Under 40 Award Winner Devan Legare
The Investment Industry Association of Canada (IIAC) is proud to announce that last night at a gala dinner, five leaders of business were inducted into the Investment Industry Hall of Fame.
“Last night, we paid tribute to five executives who have distinguished themselves through talent, leadership and integrity in Canada’s investment industry,” said Ian Russell, IIAC President and CEO. “Each one is a trailblazer whose contributions to the industry, the country and communities have set them apart. It is a distinct honour to induct each of them into the Investment Industry Hall of Fame.”
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 industry. There were many outstanding candidates this year, making for an extremely competitive process.
This year, the IIAC Top Under 40 Award is being combined with our Investment Industry Hall of Fame Gala on October 24th in Toronto, to create a fantastic celebratory event for the industry. The three finalists will be recognized at the Hall of Fame Gala and the winner will be announced and invited on stage.
SOLD OUT! IIAC FinTech Summit, October 9, 2019 | Montreal
We look forward to welcoming all presenters, panelists and attendees to the 2019 IIAC FinTech Summit in Montreal. Special thanks to our sponsors Montréal FinTech Station, Desjardins, National Bank Financial – Wealth Management, Fidelity Clearing Canada, IIROC, Croesus, National Bank Independent Network, Hudson Technology and CFA Montreal.
Click here to view the event brochure. Click here to view the agenda.
Congratulations to the 2019 IIAC Top Under 40 Award Nominees
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.
This year’s award recipient will be announced and celebrated at the Investment Industry Hall of Fame Gala Dinner and Induction Ceremony to be held on October 24, 2019. More details available here.
IIAC CEO meets with Mr. Qiu Xiaohua and colleagues
On Tuesday July 23, IIAC President and CEO Ian Russell met with Mr. Qiu Xiaohua, Strategy Officer of Sunshine Insurance Group and several of his colleagues, for a general discussion on the role of the IIAC and the Canadian investment industry in domestic capital markets. There was a vigorous but cordial discussion of the impact of the trade war between Beijing and Washington, and tense relationship with Canada, and the broad implications for Canadian capital markets and prospects for the Canadian economy.