creating opportunity in changing times · 2014-11-03 · pmac 2014 agm 1. to approve the minutes of...

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Creating Opportunity in Changing TimesNovember 25, 2014 | Hilton Hotel , Toronto

2014 National Conference & AGM

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Thank You to our Speakers

Thank You to our Sponsors

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DIAMOND SPONSOR


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PLATINUM SPONSOR


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GOLD SPONSORS


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GOLD SPONSORS


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GOLD SPONSORS


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GOLD SPONSORS


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GOLD SPONSORS


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GOLD SPONSORS


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GOLD SPONSORS

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SILVER SPONSORS


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SILVER SPONSORS


PMAC 2014 AGM

1. To approve the Minutes of the 2013 AGM.

2. To approve the Financial Statements of the Association for

the fiscal year ended June 30, 2014.

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

June 30, 2015.

4. To elect Directors of the Association.

5. To receive the Chairman’s Report.

6. To consider any other business.

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PMAC 2014 AGM





June 30, 2015.




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PMAC 2014 AGM


2. To approve the Financial Statements of the Association

for the fiscal year ended June 30, 2014.


June 30, 2015.




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PMAC 2014 AGM

Treasurer's Report – Financial Results 13/14

• Revenue

• 12% (over 12/13)

• Main increase in revenue:

• Membership Fees ( 8%)

• Seminar/Event Income ( 25 %)

• Sponsorship Income ( 20 %)

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PMAC 2014 AGM

Treasurer's Report – Financial Results 12/13

• Expenses • 11% Overall

• Member Services Largest Component ( 29%)

• Increase in staff resources ( 14%)

Net Revenue over Expenses - $31 K19

PMAC 2014 AGM

Treasurer’s Report – Financial Results 12/13

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500,000

600,000

700,000

800,000

900,000

1,000,000

1,100,000

1,200,000

2009/10 2010/11 2011/12 2012/13 2013/14

PMAC revenue and expenses 5 year trend

Revenue Expenses

PMAC 2014 AGM

Treasurer’s Report – Financial Results 12/13

• Statement of Changes in Fund Balances

• From $156K to $187K

• 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 2014 AGM





June 30, 2015.




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PMAC 2014 AGM




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

ended June 30, 2015.




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PMAC 2014 AGM





June 30, 2015.




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Election of Directors

Nominating Committee Report 2014

Proposed New Directors:

• Denys Calvin, Partner and Chief Operating Officer, Nexus Investment Management

• Marcel Larochelle, Executive Vice President and Chief Financial Officer, Fiera Capital

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Election of Directors

Nominating Committee Report 2014

Proposed Directors - Re-election

• Jacqui Allard, SVP, Head of Wealth Management Solutions & Client Experience, RBC Wealth Management for a 3 year term

• Michael Mezei, Director, President, Mawer Investment Management 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:

Mark Pratt, Associate General Counsel and

Managing Director, BMO Financial Group

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Departing Directors

Thank You to Departing Director:

Bob Hill, Managing Director,

Coleford Investment Management

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Departing Chair

Thank You to Departing Committee

Chair:

Paul Spagnolo, Chief Operating Officer,

Sionna Investment Managers

Chair of Operation Heads' Network

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PMAC 2014 AGM





June 30, 2015.




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PMAC 2014 AGM

Chairman’s Report

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PMAC Chairman’s Report

Highlights of 2013/14 - PMAC Significant Activity

Services / Activities

Advocacy

Growth

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PMAC Chairman’s ReportServices/Activities 2013/14 CEO/President Networking Dinners (November & April) Compliance Officers' Network – Continued to grow in

participation (5 meetings/year/3 cities) -- Topics & Guest Speakers:

• Business Continuity Planning – Marsha Gerhart, BLG and Niels Molbak, Mawer Investment Management Ltd.

• New Cooperative Capital Markets Regulator, Patricia Callon, Stakeholder Outreach & Communications Canadian Securities Transition Office

• FATCA Compliance, Nanci York, The Bank of Nova Scotia• NI 31-103 Registration Requirements, Pierre-Yves Châtillon, Fasken Martineau• OSC Update for PMs – Trevor Walz, OSC• CASL – Mark Dodick and Ragul Chari, H2 Central Marketing & Communications• OBSI – Tyler Fleming, OBSI• OSC 2014 Compliance Risk Assessment Questionnaire, Matt Williams, BLG

Full-day Compliance Forums in Vancouver, Montreal, and Toronto

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PMAC Chairman’s ReportServices/Activities 2013/14 New Lawyers' Network

Events/seminars during year (highlights)• Curling Bonspiel• Custodian forums• Increase your Growth Game Event• OTC Derivatives Regulation• FATCA Workshop for Portfolio Managers• Social Media (Heenan Blaikie)• Cost Disclosure and Performance Reporting (Fasken)• Cyber Security (Chubb)• ETF Fundamentals • Montreal and Vancouver Compliance Forums• U.S. Tax & Estate Law Impacting Canadian Clients (RBC Investor Services)• New Members Event

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PMAC Chairman’s ReportServices/Activities 2013/14

Updated Templates

New Templates/Guidelines• PMAC Guide to Collecting and Maintaining KYC

Information

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PMAC Chairman’s ReportServices/Activities 2013/14

Annual Surveys / Reports• 2014 PMAC Compensation Survey (Released

November 2014)• 2014 Business Succession Survey• 2014 Compliance Benchmarking Survey

Preferred Supplier Programs

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PMAC Chairman’s ReportAdvocacy 2013/14 - Federal Activities

Continued to retain Ottawa lobby firm Prospectus to assist with Federal lobbying activity

Several meetings MPs, Dept. of Finance and Minister of Finance, Parliamentary Secretary, etc.

Ongoing Issues discussed at meetings:• Trust Loss Restriction Rules• Cooperative Capital Markets Regulator• Expanded Designated Stock Exchange List• Lowering of 150 Unit Holder Rule for Mutual Fund Trust

Status

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PMAC Chairman’s ReportAdvocacy 2013/14 - Provincial Submissions• Proposed Amendments to Rule 91‐507 Respecting Trade Depositories and Derivatives

Data Reporting (Aug 2014)• Introduction of Proposed Prospectus Exemptions and Proposed Reports of Exempt

Distribution in Ontario (June 2014)• Proposed Amendments to NI 45‐106 Prospectus and Registration Exemptions

Relating to the Accredited Investor and Minimum Amount Investment Prospectus Exemptions (May 2014)

• Proposed Amendments to NI 31‐103 and Other Instruments, Related Forms (March 2014)

• CSA Notice 81‐324 – Mutual Fund Risk Classification Methodology (March 2014)• CSA Consultation Paper 54‐401 – Review of the Proxy Voting Infrastructure (Nov

2013)• CSA Notice and Request for Comment on Proposed Amendments to the Early

Warning Reporting Rules (July 2013)

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PMAC Chairman’s ReportAdvocacy 2013/14 - 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 ReportGrowth 2013/14

Membership – Over 17 new members

Bringing total to close to 200

Expansion of Affiliate Members

Expanded Sponsorship Support

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PMAC Chairman’s ReportMany 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

• Practices & Standards – Supriya Kapoor, West Face Capital

• Industry, Regulation & Tax – Scott Mahaffy, MFS Investment

• PR Liaison Committee – Michael Mezei

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Chairman’s Report

Board Plan 2014 – 2016

• Activities Supporting Keeping Members Current

• Advocacy – Federal & Provincial

• Compliance Support

• Public Relations – launch of new PR Liaison Committee

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PMAC 2014 AGM





June 30, 2015.




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PMAC National Conference & AGM

8:30 a.m. to 8:35 a.m.

Opening Comments

Speakers: Kevin LeBlanc, Chief Administrative Officer, Epoch Investment Partners

Katie Walmsley, President, PMAC


8:35 a.m. to 9:35 a.m.

Session I – “Market Outlook”

Speaker: Ronald Temple, Portfolio Manager/Analyst and Director of US Research, Lazard Asset Management


9:35 a.m. to 10:35 a.m.

Session II – “What Foreign Assets Will Investors Be Holding In The Near Future?”

Moderator: Kevin Leblanc, Epoch Investment Partners/TDAM

Speakers: Trevor Hunt, Vice President, BNY Mellon Wealth Management

John C. Siciliano, Managing Director, Global Strategy Lead, Asset Management Advisory, PwC Consulting

Carolyn Tsen, Pension Fund Senior Advisor, Hydro One

Marcus Turner, Senior Investment Consultant, Towers Watson


11:00 a.m. to 12:00 p.m.

Session III – “Who is Supplying Global Mandates To Institutional Investors in Canada?”

Moderator: Brent Wilkins, Senior Vice President, Head of Institutional Sales, Canada, Connor, Clark and Lunn Financial Group

Speakers: Julie Cays, Chief Investment Officer, College of Applied Arts and Technology (CAAT) Pension Plan

Mark Chow, Associate Partner, Canadian Head of Manager Research Due Diligence, AON Hewitt

Davis Walmsley, Vice President, Investment Management, Greenwich Associates


12:15 p.m. to 2:00 p.m.

Luncheon/Keynote Address

Speaker: Jeremy Gutsche, Founder of Trendhunter.com, Author of Exploiting Chaos


2:15 p.m. to 3:15 p.m.

Session IV – “What do Investors Really Need to Know – Best Practices in Reporting & Communication

with Clients”

Moderator: Denys Calvin, Partner & Chief Operating Officer, Nexus Investment Management Inc.

Speakers: Susan K.D. Bell, Executive Vice President, Bell Kearns & Associates Ltd.

Chris Jepson, Senior Legal Counsel, Ontario Securities Commission

Davis Walmsley, Vice President, Investment Management, Greenwich Associates


3:15 p.m. to 4:15 p.m.

Session V – “Asset Allocation from the Investment Manager Perspective”

Moderator: James Porter, Partner & Managing Director, Toron AMI International Asset Management

Speakers: David L. Donabedian, Chief Investment Officer, Atlantic Trust.

Mark Rodger, Senior Portfolio Manager, Total Portfolio Management Group, CPPIB

Michael Wissell, SVP, Public Equities, Ontario Teachers’ Pension Plan


4:15 p.m. to 6:00 p.m.

Concluding Remarks/Cocktail Reception

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creating opportunity in changing times · 2014-11-03 · pmac 2014 agm 1. to approve the minutes of...

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