1 Thank you to Our Sponsors 2 Thank you to Our Speakers 3 ICAC - - PowerPoint PPT Presentation

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Thank you to Our Sponsors

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Thank you to Our Speakers

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ICAC 2008 AGM

1.

• 1. Minutes of the 2007 AGM

Minutes of the 2007 AGM

2.

• 2. To approve the Financial Statements of the Association

To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3.

• 3. To appoint the Association

To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4.

• 4. To elect Directors of the Association.

To elect Directors of the Association.

5.

• 5. To amend the By

To amend the By-

• Laws of the Association

Laws of the Association

6.

• 6. To receive the Chairman

To receive the Chairman’ ’s Report. s Report.

7.

• 7. To consider any other business.

To consider any other business.

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ICAC 2008 AGM

1.

• 1. Minutes of the 2007 AGM

Minutes of the 2007 AGM

2.

• 2. To approve the Financial Statements of the Association

To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3.

• 3. To appoint the Association

To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4.

• 4. To elect Directors of the Association.

To elect Directors of the Association.

5.

• 5. To amend the By

To amend the By-

• Laws of the Association

Laws of the Association

6.

• 6. To receive the Chairman

To receive the Chairman’ ’s Report. s Report.

7.

• 7. To consider any other business.

To consider any other business.

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ICAC 2008 AGM

1.

• 1. Minutes of the 2007 AGM

Minutes of the 2007 AGM

2.

• 2. To approve the Financial Statements of the Association

To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3.

• 3. To appoint the Association

To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4.

• 4. To elect Directors of the Association.

To elect Directors of the Association.

5.

• 5. To amend the By

To amend the By-

• Laws of the Association

Laws of the Association

6.

• 6. To receive the Chairman

To receive the Chairman’ ’s Report. s Report.

7.

• 7. To consider any other business.

To consider any other business.

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ICAC 2008 AGM

Treasurer Treasurer’ ’s Report s Report – – Financial Results 07/08 Financial Results 07/08

• Revenue

Revenue

• 69%

69%

• New Member Growth (20)

New Member Growth (20)

• Fee Increase (10%)

Fee Increase (10%)

• New Revenue (affiliate members/sponsors)

New Revenue (affiliate members/sponsors)

• Special Contribution by Larger Firms

Special Contribution by Larger Firms – – Advocacy Advocacy

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ICAC 2008 AGM

Treasurer Treasurer’ ’s Report s Report – – Financial Results 07/08 Financial Results 07/08

• Expenses

Expenses

• 34%

34%

• Advocacy Costs (Ottawa firm retainer

Advocacy Costs (Ottawa firm retainer -

• $92K)

$92K)

• Meetings & Member Services (33%)

Meetings & Member Services (33%)

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ICAC 2008 AGM

Treasurer Treasurer’ ’s Report s Report – – Financial Results 07/08 Financial Results 07/08

• Statement of Changes in Fund Balances

Statement of Changes in Fund Balances

• ↓

↓ From $96K to $56K

From $96K to $56K

• Concluding Remarks:

Concluding Remarks:

• Positive Year in terms of Growth in Membership &

Positive Year in terms of Growth in Membership & Association Activity Association Activity

• Board recommend further growth and new initiatives to

Board recommend further growth and new initiatives to strengthen capital reserves strengthen capital reserves

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ICAC Annual General Meeting

1. 1.

Minutes of the 2007 AGM Minutes of the 2007 AGM

2. 2.

To approve the Financial Statements of the Association To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3. 3.

To appoint the Association To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4. 4.

To elect Directors of the Association. To elect Directors of the Association.

5. 5.

To amend the By To amend the By-

• Laws of the Association

Laws of the Association

6. 6.

To receive the Chairman To receive the Chairman’ ’s Report. s Report.

7. 7.

To consider any other business. To consider any other business.

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ICAC Annual General Meeting

1. 1.

Minutes of the 2007 AGM Minutes of the 2007 AGM

2. 2.

To approve the Financial Statements of the Association To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3. 3.

To appoint the Association To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4. 4.

To elect Directors of the Association. To elect Directors of the Association.

5. 5.

To amend the By To amend the By-

• Laws of the Association

Laws of the Association

6. 6.

To receive the Chairman To receive the Chairman’ ’s Report. s Report.

7. 7.

To consider any other business. To consider any other business.

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ICAC 2008 AGM

1.

• 1. Minutes of the 2007 AGM

Minutes of the 2007 AGM

2.

• 2. To approve the Financial Statements of the Association

To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3.

• 3. To appoint the Association

To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4.

• 4. To elect Directors of the Association.

To elect Directors of the Association.

5.

• 5. To amend the By

To amend the By-

• Laws of the Association

Laws of the Association

6.

• 6. To receive the Chairman

To receive the Chairman’ ’s Report. s Report.

7.

• 7. To consider any other business.

To consider any other business.

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Election of Directors of Association

Nominating Committee Report 2008: Nominating Committee Report 2008: Proposed Directors Proposed Directors: :

Appointment for a three year term ending 2011: Appointment for a three year term ending 2011:

Jacqui Allard, MFC Global Investment Management Jacqui Allard, MFC Global Investment Management Don Barber, Evans Investment Counsel Don Barber, Evans Investment Counsel Nathalie Bouchard, Nathalie Bouchard, NatCan NatCan Investment Management Investment Management Tom Johnston, UBS Global Asset Management Tom Johnston, UBS Global Asset Management

Re Re-

• election:

election:

Don Cranston Don Cranston – – CGOV CGOV -

• 1 year term

1 year term Bob Hill Bob Hill – – Coleford Coleford Investment Management Investment Management – – 3 year term 3 year term John McCutcheon John McCutcheon – – Barrantagh Barrantagh Investment Management Investment Management – – 2 year term 2 year term

These seven nominees are proposed as the slate of Directors to b These seven nominees are proposed as the slate of Directors to be e elected. elected.

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Election of Directors of Association

Nominating Committee Report 2008: Nominating Committee Report 2008: Thanks to our Departing Directors Thanks to our Departing Directors: : Jane Depraitere Jane Depraitere – – Mawer Mawer Investment Mgt. Investment Mgt. Rob Ritchie Rob Ritchie – – London Capital London Capital Brian Walsh Brian Walsh – – PH&N PH&N Keith Walter Keith Walter – – MFC Global Investment MFC Global Investment

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Election of Directors of Association

Nominating Committee Report 2008: Nominating Committee Report 2008: Thanks to our Departing Committee Chairs: Thanks to our Departing Committee Chairs: Don Barber Don Barber – – Operation Heads Network Operation Heads Network Tom Johnston Tom Johnston – – Industry Reg. & Tax Industry Reg. & Tax Carol Sands Carol Sands – – Compliance Officers' Compliance Officers' Network Network Jason Milne Jason Milne – – Investment & Corporate Investment & Corporate Governance Governance

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ICAC 2008 AGM

1.

• 1. Minutes of the 2007 AGM

Minutes of the 2007 AGM

2.

• 2. To approve the Financial Statements of the Association

To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3.

• 3. To appoint the Association

To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4.

• 4. To elect Directors of the Association.

To elect Directors of the Association.

5.

• 5. To amend the By

To amend the By-

• Laws of the Association

Laws of the Association

6.

• 6. To receive the Chairman

To receive the Chairman’ ’s Report. s Report.

7.

• 7. To consider any other business.

To consider any other business.

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ICAC By-Laws Amendments

Article 8.2 Article 8.2 – – No. of Directors

• No. of Directors

Motion: Motion: To revise the current by To revise the current by-

• law requiring 15 Board of

law requiring 15 Board of Directors to Directors to “ “10 10-

• 15.

15.” ”

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ICAC Annual General Meeting

Chairman Chairman’ ’s Report s Report

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ICAC Chairman’s Report

Highlights of 2007/08 ICAC Significant Highlights of 2007/08 ICAC Significant Activity Activity

• Services/Activities

Services/Activities

• Advocacy

Advocacy

• Growth

Growth

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Services/Activities Services/Activities 2007/08 2007/08

• Launched New Montreal Compliance Network Dec/07

Launched New Montreal Compliance Network Dec/07

• 12 events/seminars during year (highlights)

12 events/seminars during year (highlights)

• Vancouver, Montreal, Toronto

Vancouver, Montreal, Toronto – – NI 31 NI 31-

• 103

103

• Succession Planning

Succession Planning

• Business Continuity Planning

Business Continuity Planning

• Industry Software Solutions Demo Day

Industry Software Solutions Demo Day

• General Regulatory Update

General Regulatory Update

• Compliance Network Special Guest Speakers:

Compliance Network Special Guest Speakers:

• OSC (33

OSC (33-

• 729, 23

729, 23-

• 101, 21

101, 21-

• 101)

101)

• Best Execution

Best Execution – – Toni Evans Toni Evans – – TD TD

• FINTRAC (AML)

FINTRAC (AML) – – Derek Ramm Derek Ramm

• BLG (Do Not Call Regulations)

BLG (Do Not Call Regulations) -

• Richard Austin

Richard Austin

ICAC Chairman’s Report

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Services/Activities 2007/08 Services/Activities 2007/08

• Joint ICAC/Towers Perrin Salary Survey

Joint ICAC/Towers Perrin Salary Survey

• Templates

Templates – – Private Client IMA Private Client IMA – – Oct./ 07 Oct./ 07

• New Private Client Investment Policy

New Private Client Investment Policy Statement (Dec./08) Statement (Dec./08)

• New Preferred Supplier Arrangements

New Preferred Supplier Arrangements

• Frontline Technologies

Frontline Technologies

• Glass Lewis

Glass Lewis

• Stalla/Becker Professional Review

Stalla/Becker Professional Review

ICAC Chairman’s Report

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ICAC Chairman’s Report

Advocacy 2007/08 Advocacy 2007/08

Federal Federal -

• Retained Ottawa lobby firm Prospectus to increase

Retained Ottawa lobby firm Prospectus to increase effectiveness of Federal lobbying activity effectiveness of Federal lobbying activity

• Presented to Senate Banking Committee resulting in

Presented to Senate Banking Committee resulting in Bill C10 Bill C10 (new NRT rules) being blocked by Senate; (new NRT rules) being blocked by Senate;

• btained
• btained “

“comfort letter comfort letter” ” providing certain amendments providing certain amendments to pension plans and retirement savings to pension plans and retirement savings

• Individual meetings with MPs,

Individual meetings with MPs, Dept. of Finance and

• Dept. of Finance and

Minister Flaherty and his staff on Bill C10 and lowering Minister Flaherty and his staff on Bill C10 and lowering the 150 Unit Holder rule for MFT status and expanding the 150 Unit Holder rule for MFT status and expanding the number of Prescribed Stock Exchanges. the number of Prescribed Stock Exchanges.

• Recognition of ICAC

Recognition of ICAC in Ottawa as stronger voice of in Ottawa as stronger voice of Canadian Canadian’ ’s savings s savings

• Presented to

Presented to Expert Panel on Securities Regulation Expert Panel on Securities Regulation` `

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Advocacy 2007/08 Advocacy 2007/08

Provincial Provincial

• Quarterly meetings with OSC to dialogue on key

Quarterly meetings with OSC to dialogue on key regulatory issues regulatory issues

• Submission to the OSC on Staff Notice 33

Submission to the OSC on Staff Notice 33-

• 729

729 – – Marketing Practices; encouraging less restrictive rules Marketing Practices; encouraging less restrictive rules for institutional clients for institutional clients

• Submitted comment letters to CSA:

Submitted comment letters to CSA:

• NI 31

NI 31-

• 103

103 – – Registration Reform Registration Reform

• NI 23

NI 23-

• 102

102 -

• Soft Dollars

Soft Dollars

• Submitted comment letter to Ontario Ministry of

Submitted comment letter to Ontario Ministry of Finance on proposed changes impacting registration Finance on proposed changes impacting registration

ICAC Chairman’s Report

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ICAC Chairman’s Report

• Growth 2007/08

Growth 2007/08

• Membership

Membership -

• 20 new ICAC members bringing

20 new ICAC members bringing total to 110 total to 110

• Regional Growth

Regional Growth – – Quebec, BC Quebec, BC

• Formalization of Affiliate Membership Category

Formalization of Affiliate Membership Category

• Expanded Sponsorship Support

Expanded Sponsorship Support

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ICAC Chairman’s Report

• Many thanks to our Committees & Current Chairs

Many thanks to our Committees & Current Chairs

• Communications

Communications – – George Crowder, Guardian Capital George Crowder, Guardian Capital

• Member Services

Member Services – – Pamela Moore, Marquest Pamela Moore, Marquest

• Operation Heads

Operation Heads’ ’ Network Network -

• Denys Calvin

Denys Calvin -

• Nexus

Nexus

• AGM

AGM – –Jane Depraitere, Paul Harris, Pamela Moore Jane Depraitere, Paul Harris, Pamela Moore

• Many thanks to our new Incoming Chairs for

Many thanks to our new Incoming Chairs for Assuming these Leadership Roles Assuming these Leadership Roles

• Compliance Officers' Network

Compliance Officers' Network-

• Debbie Foubert

Debbie Foubert – – TD Asset Mgt. TD Asset Mgt.

• Industry Regulation & Tax

Industry Regulation & Tax – – Bill Chinkiwsky Bill Chinkiwsky – – Goodman & Co. Goodman & Co.

• Investment & Corporate Governance

Investment & Corporate Governance

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ICAC Chairman’s Report

Priorities for ICAC 08/09 Priorities for ICAC 08/09

• Services/Activities

Services/Activities – – Seminars/Preferred Supplier Programs Seminars/Preferred Supplier Programs

• Advocacy

Advocacy

• Federal

Federal

• New Bill C10 & 150 Unit Holder & Prescribed Stock

New Bill C10 & 150 Unit Holder & Prescribed Stock Exchange Exchange

• Provincial

Provincial – – NI 31 NI 31-

• 103, Pension reform

103, Pension reform

• Growth & Retention

Growth & Retention – – new members & affiliates new members & affiliates

• Market Downturn:

Market Downturn:

• Impact on Member Services & Needs from Association

Impact on Member Services & Needs from Association

• Impact on Association Finances

Impact on Association Finances

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ICAC 2008 AGM

1.

• 1. Minutes of the 2007 AGM

Minutes of the 2007 AGM

2.

• 2. To approve the Financial Statements of the Association

To approve the Financial Statements of the Association for the fiscal year ended June 30, 2008. for the fiscal year ended June 30, 2008.

3.

• 3. To appoint the Association

To appoint the Association’ ’s auditors for the year ended s auditors for the year ended June 30, 2009. June 30, 2009.

4.

• 4. To elect Directors of the Association.

To elect Directors of the Association.

5.

• 5. To amend the By

To amend the By-

• Laws of the Association

Laws of the Association

6.

• 6. To receive the Chairman

To receive the Chairman’ ’s Report. s Report.

7.

• 7. To consider any other business.

To consider any other business.

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