June 27, 2019 by Ian Russell

IIAC Infographic: Canada’s Investment Industry

The Investment Industry Association of Canada has developed an infographic that describes the salient features of Canada’s capital markets and securities industry. It is designed to convey the important contribution the investment industry makes to capital markets, the economy and communities across the country.

Member firms may find the infographic useful and compelling in summarizing the characteristics of our industry to clients and others, in creating content for press releases or marketing opportunities, and in distributing visual content on social media — a picture is worth a thousand words.

You can also access it by clicking here.

June 24, 2019 by Ian Russell

Suggested Practices for Engaging With Older and Vulnerable Clients

The Canadian Securities Administrators (CSA) published a Staff Notice offering suggested practices on matters that registrants may consider when working with older or vulnerable clients, including:

-Red flags of diminished mental capacity

-Red flags of financial exploitation

-Know your client and suitability obligations

-Complaint handling

-Supervisory procedures

-Powers of attorney and limited trading authorizations

-Training employees on identifying potential financial exploitation and diminished mental capacity

-Identifying trusted contact persons

-Establishing written policies and procedures for reporting and escalating issues

-Communicating with older or vulnerable clients

The CSA recognizes that older clients are not a homogenous group and that not all older clients are vulnerable or unable to protect their own interests. Vulnerability can affect a client of any age, take many forms, and can be temporary, sporadic or permanent in nature. The CSA encourages registrants to be mindful of, and adapt their practices to reflect, the diverse circumstances and needs of their clients.

The IIAC released similar guidance in 2014, Canada’s Investment Industry: Protecting Senior Investors – Compliance, Supervisory and Other Practices When Serving Senior Investors. You can access it here.

June 13, 2019 by Ian Russell

IIAC Announces 2019 Investment Industry Hall of Fame Inductees

The Investment Industry Association of Canada (IIAC) is proud to announce the 2019 Inductees into the Investment Industry Hall of Fame:

Helen Kearns, President & CEO, Bell Kearns & Associates Ltd.

James Pitblado, Former Chairman, RBC Dominion Securities Inc.

Charlie Spiring, Founder, Wellington West Holdings Inc.; Founder and Chairman Wellington-Altus Private Wealth Inc.

Eric Sprott, Founder, Sprott Securities Ltd. and Sprott Asset Management LP

Robert Wyman, Former Chairman & CEO, Pemberton Securities Inc. (Posthumous) 

Read more.

June 5, 2019 by Ian Russell

Steven Donald of CI Financial Corp. Appointed IIAC Board Chair

At its Annual General Meeting in Toronto today, the Investment Industry Association of Canada (IIAC) announced its 2019-2020 Board of Directors, including the appointment of Steven Donald, Executive Vice-President and Chief Risk Officer, CI Financial Corp., as IIAC Board Chair, and Benoit Lauzé, Managing Director & Head, Equity Capital Markets-Global Investment Banking, CIBC World Markets Inc., as Vice-Chair. Read More

May 13, 2019 by Ian Russell

Letter to the Editor: Ontario’s deregulation initiatives

Investment Executive recently published the editorial, “Batten down the hatches”, assailing Ontario’s deregulation initiatives. Their understanding of said initiatives is deeply flawed and their conclusions erroneous; my letter to the editor corrects the article’s misunderstanding.

May 7, 2019 by Ian Russell

IIAC seeks nominations for the 2019 IIAC Top Under 40 Award

The Investment Industry Association of Canada (IIAC) announces its annual call for nominations for the IIAC Top Under 40 Award. The 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.

This year’s recipient will be announced and celebrated as part of the Investment Industry Hall of Fame. Gala Dinner and Induction Ceremony on October 24, 2019 in Toronto.

To nominate someone, please click here.

Thank you to our Platinum Sponsor: The Canadian Securities Institute (CSI); and to our media sponsor Investment Executive / Finance et Investissement

May 2, 2019 by Ian Russell

2019 IIAC FinTech Summit

Join us in Toronto on May 31 for the 2019 IIAC FinTech Summit, “Disruption and Possibilities: Merging the Worlds of Finance and Technology”. Member firms will gain insights on how to harness FinTech to trim costs, streamline operations and offer better value propositions to their clients; learn from legal, regulatory and technical experts on how to navigate the new terrain. Click here to register.

Thank you to our sponsors: National Bank Independent Network; Appway; Four Eyes Financial; Croesus; Fidelity Clearing Canada; Unqork; Montréal FinTech Station; VigilantCS; Omega ATS; BLG.

April 2, 2019 by Ian Russell

Remembering Charles Loewen (1932 – 2019)

In Memoriam: It is with deep sadness we observe the passing of Charles Loewen.

Charles was a titan of the industry for many years, as well as a pioneer in his field. Having enjoyed a long career at the firm Pitfield, McKay, Ross, Charles then became a founding member of Loewen, Ondaatje, McCutcheon & Company (LOM) with Christopher Ondaatje and Fred McCutcheon. LOM would become the first independent research-based institutional equity firm in Canada. Charles would continue to press forward with his entrepreneurial spirit to found Loewen & Partners in 2001, providing corporate finance services to growth companies seeking private equity financing. He had a passion for finance and loved putting people and deals together. Throughout his life, he was a major supporter of Canadian entrepreneurs and ensuring their ability to access growth capital within the Canadian market.

Charles was a former governor of the Toronto Stock Exchange and served as a director and senior advisor for numerous private and public companies. He was awarded the Queen’s Jubilee Medal for Contribution to the Financial Industry in Canada in 2012.

The IIAC will be forever grateful for Charles’ generosity of time and guidance as a former director of the Investment Dealers Association of Canada. We would like to extend our heartfelt condolences to Charles’ family. He will be dearly missed.

A memorial service will be held at Grace Church on-the-Hill, 300 Lonsdale Road, on Saturday April 6 at 1 pm. Reception to follow at 135 St. George Street. In lieu of flowers, please make a donation to the Alzheimer Society of Canada.

March 8, 2019 by Ian Russell

2019 IIAC Compliance and Operations Symposium – April 3

Join us in Toronto on April 3, 2019 for this full-day event to hear perspectives on hot-button issues impacting compliance and operations professionals within Canada’s securities industry. Network with peers and industry experts throughout the day.

Latest Agenda – Please click here. To register click here.

March 4, 2019 by Ian Russell

IIAC Infographic: Ontario’s Capital Markets and Securities Industry

Ontario is a significant contributor to Canada’s capital markets underpinned by a vibrant securities industry in the province.

View the IIAC’s newly created Infographic to learn more.