Thank You to our Speakers David Frum 2 1 Thank You to our - - PDF document

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Thank You to our Speakers

David Frum

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Thank You to our Sponsors

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DIAMOND SPONSOR

Thank You to our Sponsors

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PLATINUM SPONSOR

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Thank You to our Sponsors

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GOLD SPONSORS

Thank You to our Sponsors

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GOLD SPONSORS

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Thank You to our Sponsors

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GOLD SPONSORS

Thank You to our Sponsors

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GOLD SPONSORS

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GOLD SPONSORS

Thank You to our Sponsors

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GOLD SPONSORS

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Thank You to our Sponsors

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GOLD SPONSORS

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SILVER SPONSORS

Thank You to our Sponsors

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SILVER SPONSORS

Thank You to our Sponsors Thank You to our Sponsors

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PMAC 2013 AGM

• 1. To approve the Minutes of the 2012 AGM.
• 2. To approve the Financial Statements of the Association for

the fiscal year ended June 30, 2013.

• 3. To appoint the Association’s auditors for the year ended

June 30, 2014.

• 4. To elect Directors of the Association.
• 5. To approve new By-Laws and Articles of the Association.
• 6. To receive the Chairman’s Report.
• 7. To consider any other business.

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PMAC 2013 AGM

• 1. To approve the Minutes of the 2012 AGM.
• 2. To approve the Financial Statements of the Association for

the fiscal year ended June 30, 2013.

• 3. To appoint the Association’s auditors for the year ended

June 30, 2014.

• 4. To elect Directors of the Association.
• 5. To approve new By-Laws and Articles of the Association.
• 6. To receive the Chairman’s Report.
• 7. To consider any other business.

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PMAC 2013 AGM

• 1. To approve the Minutes of the 2012 AGM.
• 2. To approve the Financial Statements of the Association

for the fiscal year ended June 30, 2013.

• 3. To appoint the Association’s auditors for the year ended

June 30, 2014.

• 4. To elect Directors of the Association.
• 5. To approve new By-Laws and Articles of the Association.
• 6. To receive the Chairman’s Report.
• 7. To consider any other business.

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PMAC 2013 AGM

Treasurers Report – Financial Results 12/13

• Revenue
• 19% (over 11/12)
• Main increase in revenue:
• Membership Fees (16%)
• Seminar/Event Income ( 39%)
• Sponsorship Income ( 23%)

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PMAC 2013 AGM

Treasurers Report – Financial Results 12/13

• Expenses
• 13%
• Member Services Largest Component

(17%)

• Increase in staff resources (.5 FTE) ( 20%)

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PMAC 2013 AGM

Treasurer’s Report – Financial Results 12/13

• Statement of Changes in Fund Balances
• From $141K to $156K
• Concluding Remarks:
• Its been another year of positive growth for the Association
• Board working on continued increase in membership to

strengthen capital reserve and alternate revenue sources

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PMAC 2013 AGM

1. To approve the Minutes of the 2012 AGM. 2. To approve the Financial Statements of the Association for the fiscal year ended June 30, 20132013. 3. To appoint the Association’s auditors for the year ended June 30, 2014. 4. To elect Directors of the Association. 5. To approve new By-Laws and Articles of the Association. 6. To receive the Chairman’s Report. 7. To consider any other business.

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PMAC 2013 AGM

1. To approve the Minutes of the 2012 AGM. 2. To approve the Financial Statements of the Association for the fiscal year ended June 30, 2013. 3. To appoint the Association’s auditors for the year ended June 30, 2014. 4. To elect Directors of the Association. 5. To approve new By-Laws and Articles of the Association. 6. To receive the Chairman’s Report. 7. To consider any other business.

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PMAC 2013 AGM

1. To approve the Minutes of the 2012 AGM. 2. To approve the Financial Statements of the Association for the fiscal year ended June 30, 2013. 3. To appoint the Association’s auditors for the year ended June 30, 2014. 4. To elect Directors of the Association. 5. To approve new By-Laws and Articles of the Association. 6. To receive the Chairman’s Report. 7. To consider any other business.

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Election of Directors

Nominating Committee Report 2013 Proposed New Directors:

• Carol Lynde, President & Chief Operating Officer, Bridgehouse

Asset Managers

• David Kilburn, First Vice President, CIBC Private Investment

Counsel

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Election of Directors

Nominating Committee Report 2013 Proposed Directors - Re-election

• Jamie Heward, President, Heward Investment Management Inc. for a 3 year

term

• Kevin Leblanc, Chief Operating Officer, TD Asset Management, Inc. for a 3

year term

• John Pitfield, Vice President & Director, Jones Collombin Investment

Counsel Inc. for a 3 year term These nominees are proposed as the slate of Directors to be re elected.

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Departing Directors

Thank You to Departing Director:

Don Barber, Evans Investment Counsel

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Departing Directors

Thank You to Departing Directors:

Mark Barnicutt, Highview Asset Management Rob Barbara, Burgundy Asset Management

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Departing Chairs

Thank You to Departing Committee Chair:

Andrew Martyn, Falcon Asset Management Chair of Member Services

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PMAC 2013 AGM

1. To approve the Minutes of the 2012 AGM. 2. To approve the Financial Statements of the Association for the fiscal year ended June 30, 2013. 3. To appoint the Association’s auditors for the year ended June 30, 2014. 4. To elect Directors of the Association. 5. To approve new By-Laws and Articles of the Association. 6. To receive the Chairman’s Report. 7. To consider any other business.

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PMAC 2013 AGM

New By-Laws and Articles

Part of transition to new Canada’s Not-for-Profit Corporations Act Compliance required by October 17, 2014 PMAC will retain key elements of the existing governance structure

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PMAC 2013 AGM

Summary of Key Changes to By-Laws

Annual Financial Statements made available to Members

• nline

New section on “Member in Good Standing” Clarity around concept of “Member Representative” Notice of meetings - Via mail (b/w 21 and 60 days of AGM; electronically b/w 21 and 35 days) Voting by show of hands Term limits for directors

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PMAC 2013 AGM

New Articles of Continuance

Min 10 and max 15 directors One class of Members Revised statement of purpose of the Association

1. To advocate the highest standards of unbiased portfolio management in the interest of investors served by Members; 2. To actively promote the profession of portfolio management and to increase public awareness of independent portfolio management and its benefits; 3. To advocate Members’ views to securities regulators and other government agencies; 4. To encourage membership in and support for the activities of the Corporation; 5. To sponsor educational programs and to conduct coordinated research projects and surveys for the continued development of the profession; 6. To cultivate co-operation, foster understanding and create interest among firms, the public, individuals, other association and professions as they may affect portfolio management through meetings, conferences, publicity, lectures, seminars and other appropriate means; and 7. To provide a resource for portfolio management related information.

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PMAC 2013 AGM

1. To approve the Minutes of the 2012 AGM. 2. To approve the Financial Statements of the Association for the fiscal year ended June 30, 2013. 3. To appoint the Association’s auditors for the year ended June 30, 2014. 4. To elect Directors of the Association. 5. To approve new By-Laws and Articles of the Association. 6. To receive the Chairman’s Report. 7. To consider any other business.

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PMAC 2013 AGM

Chairman’s Report

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PMAC Chairman’s Report

Highlights of 2012/13 - PMAC Significant Activity

Services / Activities Advocacy Growth

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PMAC Chairman’s Report

Services/Activities 2012/13 CEO/President Networking Dinners (November & April) Compliance Officers' Network – Continued to grow in participation (5 meetings/year/3 cities) -

• Topics & Guest Speakers:
• OSC Update for PMs – Trevor Walz
• CRM II – Rebecca Cowdery, BLG
• FATCA – Jillian Nicolson, Ernst & Young

Full-day Compliance Forums in Vancouver and Toronto

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PMAC Chairman’s Report

Services/Activities 2012/13

New Full-Time Member Services Coordinator added to PMAC Staff Team

• Eleanor Bushell

Events/seminars during year (highlights)

• Social Media (Heenan Blaikie)
• Cost Disclosure and Performance Reporting (Fasken)
• Cyber Security (Chubb)
• ETF Fundamentals
• Vancouver Compliance Forum
• U.S. Tax & Estate Law Impacting Canadian Clients (RBC Investor

Services)

• New Members Event
• 2 CEO Dinners

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PMAC Chairman’s Report

Services/Activities 2012/13 Updated Templates

• Conflict of Interest Disclosure Statement (November

2013)

• Principles of Corporate Governance (In Progress)

New Templates/Guidelines

• KYC Best Practices (Coming Soon!)
• Oversight of Service Providers (Coming Soon!)
• AML Compliance Guideline (2014)

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PMAC Chairman’s Report

Services/Activities 2012/13 Annual Surveys / Reports

• 2013 PMAC Compensation Survey (Released

November 2013)

• Business Ownership Survey (In progress)
• New Compliance Benchmarking Survey (Spring

2014) Preferred Partner Programs

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PMAC Chairman’s Report

Advocacy 2012/13 - Federal Activities

• Continued to retain Ottawa lobby firm

Prospectus to assist with Federal lobbying activity

• Ongoing Issues discussed at meetings:
• Pooled Registered Pension Plans (PRPPs)
• Expanded Designated Stock Exchange
• Lowering of 150 Unit Holder Rule for Mutual Fund Trust

Status

• National Regulator
• Prohibited Investment Rules
• Several meetings MPs, Dept. of Finance and

Minister of Finance, Parliamentary Secretary, etc.

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PMAC Chairman’s Report

Advocacy 2012/13 - Federal Submissions

• Designated Stock Exchange (Sept 2013)
• Pooled Registered Pension Plans (Oct 2012)
• Prohibited Investments (Feb 2013; Aug 2012)
• Pre-Budget Consultation 2013 (Aug 2012)
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PMAC Chairman’s Report

Advocacy 2012/13 - Provincial Submissions

• Proxy Voting Infrastructure (Nov 2013)
• New Cooperative Capital Markets Regulator (Oct 2013)
• New Exchange by Aequitas Innovations (Sept 2013)
• Early Warning Reporting Rules (July 2013)
• Dispute Resolution Service (OBSI) (July 2013; Feb 2013)
• Cost Disclosure, Performance Reporting and Client Statements (June

2013)

• Derivatives: Registration (June 2013)
• CSA Information Technology Arrangements (April 2013)
• Mutual Fund Fees (April 2013)
• New Capital Raising Prospectus Exemptions (March 2013)
• Standard of Conduct for Advisers and Dealers (Feb 2013)
• Unclaimed Intangible Property (Oct 2012)
• Proxy Advisory Firms (Sept 2012)

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PMAC Chairman’s Report

Advocacy 2012/13 - International Activities Continued Membership CIFA

• European based association with consultative status with the

United Nations Economic Council

• Association of financial advisors who advocate effective

regulation in the best interests of investors

Various meetings with the Investment Advisor Association (IAA) and attendance and participation at IAA Annual Conference Continued monitoring of U.S. regulatory developments

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PMAC Chairman’s Report

Growth 2012/13 Membership – Over 20 new members Bringing total to 180+ Expansion of Affiliate Members Expanded Sponsorship Support

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PMAC Chairman’s Report

Many thanks to our Committees & Current Chairs

• AGM Committee – Kevin LeBlanc, TDAM
• Compliance Officers’ Network- Cathy Tuckwell, 1832 AM
• Member Services – David Rogan, Rogan Investments
• Operation Heads’ Network - Paul Spagnolo, Sionna Investment
• Investment & Corporate Governance – Supriya Kapoor, Canoe
• Industry, Regulation & Tax – Scott Mahaffy, MFS Investment

Management Canada

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Chairman’s Report

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Incoming Chairmans Outlook

Incoming Chairman’s Report

Highlights of 2013 Membership Satisfaction Survey

190 Respondents 49.4% Satisfied 49.4% Very Satisfied

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Incoming Chairman’s Report

Top 5 Activities Important to Members

• 1. Keeping Me Current & Up To Date on

Industry Issues

• 2. Seminars/Information Sessions
• 3. Advocacy/Lobbying
• 4. Templates/Sample Policies
• 5. Compliance & Legal Support

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Incoming Chairman’s Report

Board Plan 2013 – 2015

• Focus on Activities Supporting Keeping

Members Current

• Continued Advocacy – Federal & Provincial

Advocacy/Lobbying

• More Compliance Support
• Public Relations – Portfolio Managers

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PMAC 2013 AGM

1. To approve the Minutes of the 2012 AGM. 2. To approve the Financial Statements of the Association for the fiscal year ended June 30, 2013. 3. To appoint the Association’s auditors for the year ended June 30, 2014. 4. To elect Directors of the Association. 5. To approve new By-Laws and Articles of the Association. 6. To receive the Chairman’s Report. 7. To consider any other business.

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