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Date: June 4, 2015Time: 7:45 am – 5:00 pmPlace: St. Andrews Club and Conference Centre150 King Street West, 16th Floor (Garden Room), Toronto
Featuring Keynote Speaker Michael Calce a.k.a. Mafiaboy
Hear first-hand from Michael Calce who, at age 15, brought down the world’s largest websites and caused $1.2 billion in damages by crashing the websites of Amazon, CNN, Dell, E*Trade, eBay, and Yahoo!. His actions – which were eventually stopped following a major FBI sting operation – incited panic from Silicon Valley to the White House. Michael Calce’s story is a captivating behind-the scenes tour of hacking and proof … Continue reading
The IIAC has prepared a detailed analysis of yesterday’s federal Budget from the investment industry’s perspective. Included in the summary are details on:
*Balancing the federal budget and the economic outlook
*Improving retirement and savings programs
*Cooperative Capital Markets Regulatory System (CCMRS)
*Encouraging business investment and access to finance
*Updates on tax compliance / tax avoidance measures
*Strengthening the consumer protection framework for banks and financial literacy
*Encouraging charitable donation of private shares
Ian Russell, IIAC President and CEO, conducted numerous media interviews following the unveiling of yesterday’s federal budget. Media were particularly interested in his perspectives on the doubling of the maximum annual TFSA contribution and new minimum withdrawal rules for RRIFs.
Ian Russell, the president of the Investment Industry Association of Canada says the $650 million hit to tax coffers over the next 20 years caused by nearly doubling the maximum annual TFSA contribution works out to 0.3 percent to total government revenue, a number that doesn’t take into account the reinvestment of those savings into the … Continue reading
Disciplined reforms combined with balanced budget will boost investment and growth
On behalf of the Investment Industry Association of Canada (IIAC)’s 147 investment dealer member firms, Ian Russell, IIAC President and CEO, strongly endorses measures announced in today’s federal budget to strengthen Canada’s retirement savings programs, including an increase in the annual limit for contributions to Tax-Free Savings Accounts (TFSAs) and a significant reduction in the Registered Retirement Income Funds (RRIFs) minimum annual withdrawal amounts. “These combined changes represent the most cost-effective approach to strengthening the retirement savings process for all Canadians,” Russell says.
“The government’s move to … Continue reading
Russell will be looking to see if the budget contains measures aimed at strengthening Canada’s retirement savings programs, including increases to the annual limit for Tax-Free Savings Account (TFSA) contributions and reforms to Registered Retirement Income Funds (RRIFs). The IIAC provided specific recommendations on both fronts in its pre-budget submission.
Russell says the IIAC’s 147 investment dealer member firms will also be looking to see whether the government delivers on its commitment to … Continue reading
Regulation of Canada’s investment industry is, well, confusing – to put it mildly. CIFP has created an easy-to-use, interactive map aimed at simplifying the layers (and layers) of regulatory oversight in this country. All users have to do is click on a province or territory, and a drop-down menu appears with a hyperlinked list of regulators in each region. There’s also an option to click on the Canadian flag for a list of the oversight bodies at the national level.
Although this is straightforward, navigating the map is yet another reminder of why Canada needs a cooperative … Continue reading
According to numerous media accounts breaking this morning, Finance Minister Joe Oliver is hinting that his upcoming budget will double the limit for tax-free savings accounts (TFSAs).
In fact, BNN has confirmed the contents of a letter written by the finance minister where he says the TFSA changes are going to happen.
If true, the move would be applauded by the IIAC.
In a recent Financial Post guest column, IIAC President and CEO Ian Russell outlined why: “The TFSA isn’t just a popular savings instrument among Canadians, especially for many middle-income Canadians facing retirement. It is also an economic … Continue reading
For the Week of April 6, 2015
1987 – The Supreme Court of Canada rules that the right to strike is not guaranteed by the constitution.
1990 – The House of Commons passes the Goods and Services Tax bill by a vote of 144 to … Continue reading