IIAC Committees & Working Groups

IIAC Committees

IIAC Committees are comprised of Member firm representatives and serve to:

    • Provide a forum to share ideas and concerns on industry issues and network with other industry professionals;

      • Assist in the development of responses to regulatory and government initiatives and to propose rule improvements;

        • Provide input and assistance to, and engage in dialogue with, domestic and international regulators and governments on policies and regulations affecting the Canadian investment industry; and

          • Develop and exchange industry best practices.

            Information regarding IIAC Committee participation is available here.

            Compliance Committee

            The Compliance Committee reviews the formulation of rules and policies governing industry practices and standards and undertakes studies on matters relating to client dealings and compliance. The Committee also monitors and comments on regulatory and legislative proposals relating to compliance and supervisory systems. The Committee provides a forum for the exchange of best practices and discusses issues of common concern. It provides a catalyst for the creation of business tools to help members comply with regulation cost-effectively. In addition, the Committee suggests topics for educational programs and seminars.

            Meeting frequency: 3-6 times per year
            Chair: Craig Schleyer, Watt Carmichael Inc.

            IIAC Contacts:

            Michelle Alexander
            416.687.5471
            malexander@iiac.ca
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Debt Markets Committee

            The Debt Markets Committee represents the securities industry position on policy and regulatory proposals related to activity in primary and secondary debt markets. The Committee acts on behalf of the securities industry in representations to authorities on matters including transparency and market regulation. The Committee participates with other foreign organizations to share conventions for dealing in international debt markets.

            Meeting frequency: As required
            Chair:  Rob White, BMO Capital Markets 

            IIAC Contact:
            Jack Rando
            416.687.5477
            jrando@iiac.ca

            Derivatives Committee

            The Derivatives Committee (DC) represents the views and interests of IIAC member firms in the derivatives markets. The DC will:

            • Engage in dialogue with regulators, SROs and governments on policies and regulations affecting the derivatives markets and business practices of participants;
            • Comment on legislative and regulatory initiatives that affect the derivatives industry;
            • Serve as a forum where derivatives market participants share ideas and concerns on various industry issues and explore operational efficiencies that will benefit markets , investors and participants; and
            • Identify measures to enhance the reputation and profile of the industry, including helping build a better understanding of derivatives and their uses.
            Meeting frequency: Bi-monthly
            Chair: Naresh Tejpal, CIBC World Markets

            IIAC Contact:
            Richard Morin
            514-843-8950
            rmorin@iiac.ca

            Equity Markets Committee

            The Committee represents the securities industry on proposed provincial legislation and regulations governing market-making and trading in secondary equity markets, and market structure. The mandate of the Committee is to develop and articulate policies that relate to transactional activity and structural change in domestic markets and that contribute to efficient, competitive and well-functioning markets.

            Meeting frequency: As required
            Chair: Peter Haynes, TD Securities

            IIAC Contact:
            Susan Copland
            604-637-1677
            scopland@iiac.ca

            Insurance Committee

            The Insurance Committee provides firms a platform for an open exchange of best practices and ideas, discussion on various sectors of interest, as well as analysis of new rules and provincial regulations impacting the retail insurance business.  Topics have included continuing education for insurance registrants, estate planning issues and new products.

            Meeting frequency: As required
            Chair: David Potter, CIBC

            IIAC Contact:
            Pauline Flores
            416.687.5478
            pflores@iiac.ca
            Adrian Walrath
            416.687.5472
            awalrath@iiac.ca

            Investment Banking Committee

            The Investment Banking Committee develops and represents the securities industry position on provincial securities legislation and regulations related to the primary markets, including disclosure of corporate finance transactions and restructurings, such as going-private transactions.

            Meeting frequency: As required
            Chair: James Barltrop, Scotia Capital Markets

            IIAC Contact:
            Susan Copland
            604-637-1677
            scopland@iiac.ca

            Ombudsman for Banking Services and Investments (OBSI) Committee

            The OBSI Committee meets regularly with the Ombudsman and staff to discuss issues and prospective changes in OBSI’s operations and governance. The Committee regularly works with the Canadian Bankers Association (CBA) and the Investment Funds Institute of Canada (IFIC) to submit industry position papers relating to matters on the OBSI Board agenda, prior to each OBSI Board meeting, and responds to requests for comments issued by OBSI or other regulators in relation to dispute resolution.

            Meeting frequency: 8 Pre-and Post – OBSI Board Briefings per year, and on an as needed basis depending on issues arising (generally 4 times per year).

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Online Brokerage Committee

            The Online Brokerage Committee represents the views and interests of online brokerage firms and their clients. It addresses the needs of these firms by providing a forum to discuss issues affecting the industry and investors and a peer network for firms to share information and experience. The Committee acts as the voice of the online brokerage sector when dealing with regulators; it provides input on legislative and regulatory requirements to ensure that the specific concerns of such firms are appropriately considered on these matters.


            Meeting frequency:
             Bi-monthly
            Chair:
            Richard Wilks, TD Waterhouse

            IIAC Contact:
            Richard Morin
            514.843.8950
            rmorin@iiac.ca

            Private Client Committee

            The Private Client Committee provides members with advice and advocacy on policy issues pertaining to the retail business of the securities industry. Such policy issues include the review and consideration of the impact of regulation and trends on retail business activities. The Private Client Committee also focuses on investor confidence and measures to enhance industry reputation and profile.

            Meeting frequency: 9 times per year
            Chair: Mike Reynolds, TD Wealth Private Investment Advice

            IIAC Contact:
            Michelle Alexander
            416.687.5471
            malexander@iiac.ca

            Regional Committees

            Regional Committees are the primary means to exchange ideas on issues and to provide input on policy matters of both regional and national spectrum, including securities legislation; regulatory, capital markets and government policy initiatives; and business practice issues.

            Meeting frequency: Quarterly or as agreed to with Committee and Chair.
            Regional Chairs:
            British Columbia – Don Cromar, PI Financial
            Alberta – Chandra Henry, FirstEnergy
            Manitoba – Michelle Bradet-Simpson, Richardson GMP
            Québec – Marc-André Lacaille, BMO Nesbitt Burns
            Atlantic – Mary Jacobs, TD Waterhouse Canada Inc.

            IIAC Contacts:

            British Columbia, Alberta and Manitoba
            Susan Copland
            604-637-1677
            scopland@iiac.ca
            Quebec and Atlantic Canada
            Richard Morin
            514.843.8950
            rmorin@iiac.ca

            Registered Plans Committee

            The Registered Plans Committee reviews proposed amendments to federal and provincial legislation targeting various registered plans such as RRSPs, RRIFs, TFSAs and RESPs. The committee reviews proposed changes from both an operational and policy perspective and develops securities industry positions on practical and conceptual matters surrounding the administration of these plan accounts. The committee interacts with federal and provincial governments as well as domestic tax authorities to address concerns, providing recommendations and proposing solutions. The committee also serves as a forum for the securities industry to explore additional operational efficiencies in the administration of the plans.

            Meeting frequency: Quarterly
            Chair: Marianne Miller, TD Wealth Management

            IIAC Contact:
            Jack Rando
            416.687.5477
            jrando@iiac.ca

            Small Dealers / Introducing Firms Committee

            The Small Dealers / Introducing Firms Committee represents the views and interests of small member firms, including introducing firms. It addresses the needs of these firms by providing a peer network for firms to share information and experience. It also provides input on legislative and regulatory requirements to ensure that the specific concerns of such firms are appropriately considered on these matters.

            Meeting frequency: 6-10 times per year
            Chair: Mario Frankovich, Burgeonvest Bick Securities Limited

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Tax Reporting Committee

            The Tax Reporting Committee reviews proposed amendments to federal and provincial tax legislation from an operational perspective, comments on proposed tax reporting forms and develops securities industry positions on practical and conceptual matters surrounding tax reporting, tax-sheltered investment plans and other tax-related matters. The committee interacts with federal and provincial governments to address concerns, providing recommendations and proposing solutions. The committee also works with Canadian Depository for Securities Limited (CDS) regarding enhancements to tax reporting, reconciliations and other tax-related services that CDS Clearing & Depository Services Inc. provides. Finally, the Tax Reporting Committee works with issuers to ensure timely reporting by them on the CDS Innovations tax factor reporting website so that investors can receive tax slips on as timely a basis as possible.

            Meeting frequency: Monthly
            Chair: Brian Snider, BMO Nesbitt Burns

            IIAC Contact:
            Jack Rando
            416.687.5477
            jrando@iiac.ca

            U.S. Tax Committee

            The U.S. Tax Committee reviews and comments on proposed amendments to U.S. tax withholding and reporting legislation, regulations and policies. It develops Canadian securities industry positions on practical and conceptual matters surrounding U.S. tax withholding and reporting requirements, including advocacy and developing best practices.

            Meeting frequency: Monthly

            IIAC Contact:
            Andrea Taylor
            416.687.5476
            ataylor@iiac.ca

            Communications Committee

            The Communications Committee’s mandate is to further the growth and development of the Canadian investment industry by reviewing and sharing communications best practices. The Committee, which is comprised of senior industry communications and marketing professionals, addresses topics that include the communication of industry issues relating to IIAC activities and industry news, how information is communicated, and the effectiveness of the communications.

            Meeting frequency: 4 times per year

            IIAC Contacts:

            Annie Smith
            416.687.5474
            asmith@iiac.ca
            Michael Gotzamanis
            416-687-5475
            mgotzamanis@iiac.ca
            Pauline Flores
            416.687.5478
            pflores@iiac.ca

             

            IIAC Working Groups

            IIAC Working Groups bring member firm representatives together to discuss timely industry issues and provide comments to regulators. For more information, or to join a Working Group, please contact the designated IIAC representative.

            Anti Money Laundering Sub-Committee

            Status of Committee:
            Active

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Broker Warrant Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Canadian Anti-Spam Legislation (CASL) Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Compliance Procedures and Audit Process Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            CRM2 Communications Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Fees and Compensation Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Implementation Working Group

            Status of Committee:
            Active

            IIAC Contacts:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca
            Adrian Walrath
            416.687.5472
            awalrath@iiac.ca

            CRM2 Market Value Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Mutual Fund Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Performance Reporting Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Position Cost Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Reporting Prototypes Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            CRM2 Transfers Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Dark Pools Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Deposit Type Instrument Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Jack Rando
            416.687.5477
            jrando@iiac.ca

            Due Diligence Procedures

            Meeting Frequency: Ad hoc
            Chair: James Barltrop, Scotia
            IIAC Contact: 
            Susan Copland 
            604.637.1677

            Direct Electronic Access Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Emergency Preparedness Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Electronic Trading Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Exchange-Traded Funds Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            scopland@iiac.ca

            Exempt Market Issues Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            FATCA Capital Markets Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Andrea Taylor
            416.687.5476
            ataylor@iiac.ca

            Fee Based Accounts Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander
            416.687.5471
            malexander@iiac.ca

            Fiduciary Duty Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Financial Hardship Unlocking Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            GST Review Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Hard to Value Securities Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            IIAC Roundtable on Personal Financial Dealings Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander
            416.687.5471
            malexander@iiac.ca

            IIROC Draft Guidance on Borrowing Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            IIROC Enforcement Rules Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            IIROC Guidance & Compensation Structures Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            IIROC Outsourcing Arrangements Working Group

            Status of Committee:
            Inactive

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            IIROC Sanction Guidelines Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Adrian Walrath
            416.687.5472
            awalrath@iiac.ca

            Immigrant Investor Program Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Richard Morin
            514.843.8950
            rmorin@iiac.ca

            Market Data Fees Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Modernization of Investment Fund Product Regulation Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Mortgage-Backed Securities Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Jack Rando
            416.687.5477
            jrando@iiac.ca

            New Capital-Raising Exemptions Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            New Issues Not Available in Quebec Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Richard Morin
            514.843.8950
            rmorin@iiac.ca

            Order Protection Rule Working Group

            The Order Protection Rule WG is reviewing and commenting on the CSA’s proposed changes to NI 21-101 Trading Rules, and the impacts of the multiple marketplace structure.

            Chair:
            Nancy Paquet
            Présidente / President
            Courtage direct Banque Nationale / National Bank Direct Brokerage

            Vice-chair:
            Scott R. Gibner
            Chief Executive Officer
            Qtrade Financial Group

            Meeting frequency: To be determined.

            IIAC Contact:
            Richard Morin
            514-843-8950
            rmorin@iiac.ca

            Outsourcing Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Performance and Reporting Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Personal Financial Dealing & Outside Business Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Point of Sale Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Pooled Registered Pension Plan Working Group

            Status of Committee:
            Active

            IIAC Contacts:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca
            Andrea Taylor
            416.687.5476
            ataylor@iiac.ca

            Proficiency Assurance Model Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Prospectus Exemptions Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Registered Plans Best Practices Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Research Analyst Standards Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander
            416.687.5471
            malexander@iiac.ca

            Revenue Quebec Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Securitized Products Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Michelle Alexander 
            416.687.5471
            malexander@iiac.ca

            Self Trade Procedures

            Meeting Frequency: Monthly/as needed
            Chair: Alex Taylor, CIBC
            IIAC Contact: 
            Susan Copland 
            604.637.1677

            Shareholder & Electronic Communications Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Andrea Taylor
            416.687.5476
            ataylor@iiac.ca

            Take Over Bid Regulation

            Meeting Frequency: Ad hoc
            Chair: n/a
            IIAC Contact: 
            Susan Copland 
            604.637.1677

            Tax Free Savings Accounts Issues Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Tax Policy Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Jack Rando
            416.687.5477
            jrando@iiac.ca

            Tax Reporting Committee Adjusted-Cost-Basis Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Tax Reporting Committee Spreadsheet Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Eon Song
            416.687.5480
            esong@iiac.ca

            Tax Reporting Committee T1135 Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            Tax Threshold/Amendments Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca

            TMX Restructuring Advisory Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Susan Copland
            604.637.1677
            scopland@iiac.ca

            Trade Repository 91-507 Working Group

            Status of Committee:
            Awaiting Developments

            IIAC Contact:
            Richard Morin
            514-843-8950
            rmorin@iiac.ca

            Unclaimed Intangible Property Act Working Group

            Status of Committee:
            Active

            IIAC Contact:
            Barbara Amsden
            416.687.5488
            bamsden@iiac.ca