Investment Industry Association of Canada 2012 outlook luncheon series Toronto Jan 18th

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www.iiac.ca     @Empire_Club

Member Update on IIAC Priorities for 2012

As we all know, the financial world as we know it continues to change on a daily basis. That we live in a new financial world – there is no doubt. We do. That this new world is more complex, more challenging and more regulated – is also not something that is in question. It is. In these challenging times, it is important that IIAC “step up” its efforts, particularly in the area of engagement and communication with its members. It is important that IIAC be listening to its members, working with members, assisting members, wherever it can. The Member Update on IIAC Priorities for 2012 is a tangible demonstration of IIAC’s commitment to openly engage more with its members in 2012.

What it is:
In January a team of senior staff from IIAC will be visiting six cities across the country for a series of meetings to brief members on the priorities which IIAC is working on – and which will be a focus for IIAC in 2012. There is no cost to members to attend the meetings – but members must register to attend.
Why members should attend:
The priorities which IIAC has identified are fundamentally important to IIAC members’ business – these are priorities that will impact members business in 2012. Members need to know this information. IIAC senior staff members will be taking members through what IIAC is doing/has done, and what it will be doing. The presentation will take approximately 1 hour. Members are encouraged to ask questions and provide their input.
Where it takes place:
To register, please click on your city below:
  • Jan. 5: Halifax 5:30-6:30 pm, the Westin Nova Scotian (followed by wine and cheese reception).
    IIAC staff: Michelle Alexander, Andrea Taylor, Gerard Holmes
  • Jan. 10: Winnipeg 3:00-4:00 pm, the Fairmont Winnipeg (followed by wine and cheese reception).
    IIAC staff: Deborah Wise, Barbara Amsden, Gerard Holmes
  • Jan. 11: Calgary 3:00-4:00 pm, the Fairmont Palliser (followed by wine and cheese reception).
    IIAC staff: Susan Copland, Barbara Amsden, Gerard Holmes
  • Jan. 12: Vancouver 3:00 – 4:00 pm, the Fairmont Hotel Vancouver (followed by wine and cheese reception)
    IIAC staff: Susan Copland, Barbara Amsden, Gerard Holmes
  • Jan. 17: Montreal 8:00 – 9:00 am, The Fairmont Queen Elizabeth
    Marcel St. Amour, Jack Rando, Andrea Taylor, Barb Amsden, Gerard Holmes
  • Jan. 18: Toronto 8:00 – 9:00 am, The National Club
    Michelle Alexander, Jack Rando, Barb Amsden, Gerard Holmes

Agenda:
The 1 hour presentation will focus on (but not be limited to) the following four key topics:

  • Client Relationship Model: Over the years the IIAC has had many successes in helping to shape the Client Relationship Model (“CRM”) and make it more workable for member firms. CRM is now close to being finalized by the Investment Industry Regulatory Association of Canada and while we await final approval there are many key elements that members and their advisors need to be aware of including: what must be included in the Relationship Disclosure Document, general conflicts of interest management, enhanced suitability requirements as well as timelines for implementation.
  • Point of Sale: Discussion will include Stage 1 implementation, what Stage 2 means to member firms when it comes into force in 2012 as well as challenges member firms continue to face with proposed Stage 3 including: challenges around delivery of the fund facts document, waivers, subsequent purchases, updating the fund facts document, as well as increased costs for member firms associated with the proposal which will ultimately change how businesses are run from a compliance and supervisory perspective.
  • FATCA (US Foreign Account Tax Compliance Act): Over the past three years, IIAC has been an active voice representing our industry’s concerns about the onerous U.S. tax reporting and withholding requirements for financial institutions – known as “FATCA” – the first phase of which will need to be implemented in 2013.
  • Retirement Savings:Promoting retirement savings is an important part of IIAC’s mandate. IIAC has been working to ensure that pressure to improve retirement options does not lead to a shift from the flexibility offered by member-provided RRSP and group RRSP vehicles and will work to address some of the challenges arising from proposed features of The New Pooled Registered Pension Plans (PRPPs) that are targeted at people without workplace pension plans. We’ll also provide the latest on the federal 2011 Budget RRSP/RRIF anti-avoidance proposals and what they mean for your clients.
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