NSCP Toronto Regional Membership Meeting

Sign up and pay online

... while we're at it, here's a link to our NSCP Canadian Compliance Forum. It's FREE to everyone (and will stay that way), not just members. It's a new, free benefit for Canadian Compliance Professionals that we've started recently. Please have a look!

Meeting Sponsors
ACA Compliance Group
Bingham McCutchen LLP
ITG Canada Corp.

CLOSED = closed to the Regulators and members of the press, UNLESS the workshop is marked "OPEN."

General Session (8:00 am - 9:30 am)

DIALOGUE WITH REGULATORS -
THE IMPACT OF THE REGISTRATION REFORM PROJECT ON COMPLIANCE PROFESSIONALS [GI*] *OPEN*

• The role and obligations (and liabilities) of the CCO under NI 31-103
• The "supervision" requirements in NI 31-103 and the SROs' Joint Regulatory Notice on the Role of Compliance and Supervision
• The role of compliance in managing "the risks associated with its business in conformity with prudent business practices"
• Compliance officers' reporting obligations to UDPs and boards
• CCOs' proficiency requirements and transitional provisions
• New recordkeeping obligations under NI 31-103 regarding compliance and supervision activities.

Mark D. Pratt, Mackenzie Financial Corporation (Moderator)
Christina Forster Pazienza, Ontario Securities Commission
Laura Bliss, British Columbia Securities Commission*
Karen McGuiness, Mutual Fund Dealers Association of Canada

WORKSHOP SESSION I (9:40 am - 10:55 am)

(a) Regulators Q&A Session: Your Chance to Ask About Current Initiatives
BUY-SIDE/ADVISORS [GI*] *OPEN*

• Point of Sale Initiative
• Hot Issues in Compliance
• Derivatives Regulation
• Client Brokerage Commissions (Soft Dollars)
• ABCP Consultation Paper, including its Impact on Money Market Funds

Lynn M. McGrade, Borden Ladner Gervais LLP (Moderator)
Sandy Jakab, British Columbia Securities Commission
Mario Albert, Autorite des marches financiers du Quebec
Darren McKall, Ontario Securities Commission

(b) Regulators Q&A Session: Your Chance to Ask About Current Initiatives
SELL-SIDE/DEALERS [GI*] *OPEN*

• Best Execution, Direct Market Access, Trade-Throughs
• Client Brokerage Commissions (Soft Dollars)
• Suitability Guidelines
• ABCP and Structured Products Due Diligence
• Other Regulatory Initiatives

Terence Doherty, Stikeman Elliot LLP (Moderator)
Karen McGuiness, Mutual Fund Dealers Association of Canada
Mike Prior, Investment Industry Regulatory Organization of Canada
Tracey Stern, Ontario Securities Commission

WORKSHOP SESSION II (11:05 am - 12:20 pm)

(a) PRACTICAL APPLICATIONS FOR COMPLIANCE TESTING (ICPM / MFM) *CLOSED TO REGULATORS / PRESS*

• Identifying which areas to focus your testing
• Measuring the amount and types of testing required (sample sizes and frequency)
• Sample tests for key areas (portfolio management, marketing, valuation)
• How to document the process

Jacqueline Sanz , AGF Management Limited
Timothy M. Simons, Ashland Compliance Group LLC

(b) PRACTICAL APPLICATIONS FOR COMPLIANCE TESTING (BD) - Institutional *CLOSED TO REGULATORS / PRESS*

• Practical approaches to test the firm’s internal controls – what is reasonable
• Acceptable standards regarding sampling methods (UMIR 7.1)
• Documenting the process (evidence of review)
• Reporting to Management and the Board
• Forensic testing: when will you need to do it? Daily or when bad things happen?
• Testing across multiple markets

Larry Boyce, SBG Regulatory Consulting Inc. (Moderator)
Torstein Braaten, ITG Canada Corp.
Tom Briant, Genuity Capital Markets
Naresh Tejpal, BMO Capital Markets Compliance

(c) PRACTICAL APPLICATIONS FOR COMPLIANCE TESTING (BD/MFD) Retail *CLOSED TO REGULATORS / PRESS*

This session will explore practical approaches for compliance reviews, compliance testing, and audit practices to help Compliance Professionals determine:

• Reasonable standards regarding sampling methods
• Development and implementation of supervisory review structures
• Practical approaches to testing internal controls
• Documenting the process and building a plan
• CEO Certification

Kim Maggiacomo, RMS Consulting (Moderator)
Mary Filippelli, KPMG LLP
Barbara L. Elliot, PricewaterhouseCoopers LLP
Darcy Lake, BMO Investments Inc.

LUNCH (12:20 pm - 1:10 pm)

WORKSHOP SESSION III (1:10 pm - 2:25 pm)

(a) Registration Reform Workshop (ICPM / MFM) *CLOSED TO REGULATORS / PRESS*

This workshop will examine practical changes and make recommendations that ICPM’s and Mutual Fund Managers should be considering in order to comply with their new substantive obligations under NI 31-103 and NI 33-109.

• Understanding the impact of NI 31-103 on your business
• Ensuring compliance with new proficiency, capital and insurance requirements
• Implementing the passport system of registration
• Managing the transition

Garth J. Foster, Fasken Martineau DuMoulin LLP
Cathy Tuckwell, Scotia Cassels Investment Counsel Limited
John Mountain, Northwest & Ethical Investments L.P.

(b) Registration Reform Workshop (BD / MFD) *CLOSED TO REGULATORS / PRESS*

This workshop will examine practical changes that investment dealers, mutual fund dealers and exempt market dealers should be considering in order to comply with their new substantive obligations under NI 31-103, NI 33-109 and new rules of IIROC and the MFDA.

Jeremy J. Devereux, Ogilvy Renault LLP (Moderator)
Russell Purre, RBC Dominion Securities Inc.
William Donegan, Scotia Securities Inc.

WORKSHOP SESSION IV (2:35 pm - 3:50)

(a) TRADING PRACTICES: EFFECTIVE COMPLIANCE OVERSIGHT (ICPM / MFM) *CLOSED TO REGULATORS / PRESS*

• Trade management oversight - what does it mean?
• Best execution policy and procedures (NI 23-101 requirements)
• Commission sharing arrangements and other soft dollar practices (NI 23-102 requirements)
• Broker-dealer oversight including periodic reviews for counterparty risk and commission monitoring
• UMIR application to the buy-side

Rebecca A. Cowdery, Borden Ladner Gervais LLP (moderator)
Toni Evans, TD Asset Management Inc.
Brian Holland, Guardian Capital LP

(b) PRODUCT DUE DILIGENCE (BD / MFD) *CLOSED TO REGULATORS / PRESS*

KNOW-YOUR-PRODUCT: Star Portfolio Performer or Ponzi Scheme?
Identifying the Ticking Time-Bombs Before They Hit Your Shelf

A discussion on best practices for:

• assessing and ranking risk;
• assessing and calculating costs;
• identifying and addressing conflicts of interest;
• evaluating merit;
• pre-determining suitability; and
• educating representatives.

Bryce Kraeker, Gowlings LLP (Moderator)
Naomi S.D. Solomon, TD Wealth Management Compliance
Brent H. Moore, HSBC Securities (Canada) Inc.

WORKSHOP SESSION V (4:00 pm - 5:00)

(a) COMPLIANCE IN SMALL FIRMS (ICPM/MFM) *CLOSED TO REGULATORS / PRESS*

Today's ever changing economic and regulatory environment creates unique challenges for compliance professionals at small investment firms. In this workshop the panel will discuss the following subjects and provide their experiences and suggested solutions as to how these challenges can be addressed.

• What are the Current Challenges for small investment managers
• "Top 5" list of Key issues faced by small firms
• To outsource or not to outsource? ... and what to outsource?
• The role of technology - or is it just for the big firms?
• Real-life Solutions and Examples to meet your-day-to-day obligations

Andrew Aziz, Partner Oslers LLP
Supriya Kapoor, Mulvihill Capital Management Inc.
Cynthia Rogers, Beutel, Goodman & Company Ltd.

(b) COMPLIANCE IN CHALLENGES AND SOLUTIONS FOR SMALL FIRMS (BD/MFD) *CLOSED TO REGULATORS / PRESS*

Participants in the capital markets face many challenges in today’s market place including increased regulation, investment product complexity, and the need to manage investor confidence. This session will explore the impact to small firms.

• What are the compliance challenges for small firms?
• Is there a “barrier to entry” for small firms?
• What are some practical solutions for small firms?

Robert Brush, Crawley Meredith Brush LLP (Moderator)
George Aguiar, GP Wealth Management Corporation
Frederick Vance, Northern Securities Inc.
Kim Maggiacomo, RMS Consulting

(c) COMPLIANCE LESSONS TO BE LEARNED FROM THE CREDIT CRISIS (GI*) *OPEN*

Since mid-2007, the ongoing credit crisis has had an enormous impact on securities firms of all types and sizes. In this workshop, the panel will discuss the impact of the crisis on both U.S. and Canadian firms, the regulatory responses so far and the longer term impact on firms’ policies and procedures regarding such matters as suitability, valuation and risk management.

Ellen Bessner, Gowlings LLP (Moderator)
Timothy M. Simons, Ashland Compliance Group LLC
John R. Morton, Scotia Capital Inc.