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Financial Administrators Section



(Click here for FAS conference materials.) 
 
 
 

 Mandate

 
Mandate
  • advise on the development of rules and policies on financial and operational related matters affecting Dealer Members; and
  • provide a forum for the exchange of information relating to complying with IIROC and other requirements that relate to financial and operational related matters.
Reports To: Staff of IIROC
 
 

 Structure

 
Specific Responsibilities: The Section provides advice on the development of rules that are of particular relevance to senior financial and operations officers and other individuals having similar responsibilities.
 
The Section is also responsible for establishing Sub-Committees to consider issues and to make recommendations to the Section on specific initiatives designed to address new and changing financial and operational developments in the industry.
 
Finally, the Section is responsible for organizing seminars (including the annual Financial Administrators Section Conference) on financial, operational and general securities industry issues to assist in educating Dealer Members.
 
Membership & Structure
 
Membership: Membership in the Section shall be restricted to senior financial and operations officers or other persons having similar responsibilities, regardless of title who are employed by Dealer Members or Marketplace Members.
 
Ex-officio Members:
  • President (or another officer of IIROC designated by the President); and
  • Chair of the Board (or another member of the Board designated by the Chair or the Board).
Liaison Officers: Liaison officers shall be appointed by the Section to represent: (1) The Bourse de Montreal, (2) CDS Clearing and Depository Services Inc., (3) The Canadian Derivatives Clearing Corporation, (4) The Canadian Investor Protection Fund and (5) The Toronto Stock Exchange.
 
Term: No term or limit on the number of terms
 
Nominating Process: Each Member shall be permitted to nominate a maximum of three persons for membership in the Section, providing they meet the membership requirements. Where a Member has nominated either two or three persons to be members of the Section, one of the nominations must be designated as the "Primary Member" and the other nomination(s) must be designated as the "Alternate Member(s)".
 
Appointment Process: All nominees are reviewed and appointed by the Section itself.
 
Executive and Subcommittees
 
Chair and Vice-Chair: The Chair and Vice-Chair of the Committee shall hold office for a two-year term commencing on the date of the FAS Annual Meeting of the relevant year. In order to ensure consistency, the Vice-Chair will assume the role of Chair of the Executive Committee for the subsequent two-year period.
 
Voting Process: Each Member with members in the Section shall be entitled to one (1) vote at the Section's meetings; provided that if any two (2) or more Members are affiliates of each other, such Members shall jointly be entitled to one (1) vote at the Section's meetings. The Chair shall only vote in the case of a tie vote.
 
Executive Committee: The Section shall be governed by an Executive Committee comprised of the Chair, Past-Chair and Vice-Chair, together with 12 additional members. Only one person from each member may sit on the Executive Committee at any one time, unless a specific exemption is provided by majority vote of the Committee.
 
A Nominating Committee comprised of the Chair and Vice-Chair shall submit to the Section Annual Meeting a list of persons that it recommends to serve on the Executive Committee. In determining its recommended list of persons the Nominating Committee shall ensure that there is equitable representation on a geographic (regional versus national dealers), business line (institutional versus retail, debt versus equity versus derivatives), business structure (introducer versus self-clearing) and business size (small, medium and large sized firms) basis.
 
Sub-Committees: Standing Sub-Committees may be established at the initiative of Committee. The existing Sub-Committee are:
  1. Capital Formula Sub-Committee, which provides specialized advice on issues and policy development initiatives relating to Dealer Member capital, margin, security segregation, capital formula, financial record keeping and financial reporting requirements. Member list
  2. Contingency Planning Sub-Committee, which provides specialized advice on issues and policy development initiatives relating to Dealer Member emergency preparedness planning matters, including business continuity and pandemic planning.
    Member list
  3. Insurance Sub-Committee, which provides specialized advice on issues and policy development initiatives relating to Dealer Member insurance coverage including financial institution bond coverage and related insurance coverage riders. Member list
  4. Mutual Funds Sub-Committee, which provides specialized advice on issues relating to Dealer Member mutual funds operations that have regulatory implications in terms of ability to comply with existing or proposed regulatory requirements or that have the potential to increase risk. Member list
  5. Operations Sub-Committee, which provides specialized advice on issues relating to Dealer Member operations that have regulatory implications in terms of ability to comply with existing or proposed regulatory requirements or that have the potential to increase risk - mandate includes the monitoring of domestic and international initiatives that affect the operations of Dealer Members and clearing corporations. Member list
Meeting Schedule: Regular quarterly meetings and special meetings at the call of the Chair.
 
 

 ​Executive

 

Executive

  
Holly Benson, ChairPeters & Co. Limited
Catherine Patterson, Vice-ChairRBC Dominion Securities Inc.
Douglas BennettEdward Jones
Ed CharronGMP Securities L.P.
Lloyd CostleyRaymond James Ltd.
Robert EdwardsScotia Capital Inc.
Jeff KennedyCormark Securities Inc.
Tino PerciballiBMO Nesbitt Burns Inc.
Dean PercyQuestrade, Inc.
Fotios SaratsiotisNBCN Inc.
Robert SellarsDundee Securities Ltd.
Peter VirvilisCanaccord Genuity Corp.
Michael WardParadigm Capital Inc.
Thomas WhiteFidelity Clearing Canada ULC
Jamie Bulnes, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Richard Corner, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Sonja McCreary, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
 

 Primary Members

 

Primary Members

  
Holly Benson, ChairPeters & Co. Limited
Catherine Patterson, Vice-ChairRBC Dominion Securities Inc.
Paul Aitkens 
James AndrewsIndustrial Alliance Securities Inc.
Bernard Arokium 
Alejandro AvellaTD Bank
Jean-Paul BachelleriePI Financial Corp.
Ken BakerCIBC World Markets Inc.
Douglas BennettEdward Jones
Conrad BeyleveldtEdgecrest Capital Corporation
Bob BishopCIBC Client Services
Jim BlairJordan Capital Markets Inc.
Duncan BoggsGlobal Securities Corporation
Daniel Boisvert 
Tom BrownChippingham Financial Group
Marian BuklisAcker Finley Inc.
Myra CameronPortfolio Strategies Securities Inc.
Shauna CampbellAltaCorp Capital Inc.
Ed CharronGMP Securities L.P.
Sara CollinsJ.P. Morgan Securities Canada Inc.
Helen CorriganRothenberg Capital Management Inc.
Lloyd CostleyRaymond James Ltd.
Curt CummingGoodwood Inc.
Jim DaleLeede Financial Markets Inc.
Gregory DaviesITG Canada Corp.
Peter DeebHampton Securities Limited
Sesto DeLucaW.D. Latimer Co. Limited
Robert DoreyLombard Odier Securities (Canada) Inc.
Louise DuchesneLightyear Capital Inc.
Charles DunlapHaywood Capital Markets
Robert EdwardsScotia Capital Inc.
Michael FrederickATB Securities Inc.
Stephen GerryUBS Securities Canada Inc.
Robert Goldberge3m Investments Inc.
David GynnDeutsche Bank Securities Limited
Keith Harris 
Chandra HenryFirstEnergy Capital Corp.
Robb HindsonJones, Gable & Company Limited
Sindy JaggerK.J. Harrison & Partners Inc.
Ginalee JonesWoodstone Capital Inc.
Jeff KennedyCormark Securities Inc.
Edward KholodenkoQuestrade, Inc.
Kenneth KlepackiInstinet Canada Limited
Michael KonopaskiAligned Capital Partners Inc.
Frank Laferriere 
Michael LamanManulife Securities Incorporated
Patrick LillyD&D Securities Inc.
Myja MillerAcumen Capital Finance Partners Limited
John MitchellWolverton Securities Ltd.
Tom MonahasClarus Securities Inc.
Robert MortonState Street Global Markets Canada Inc.
Les Moskalewicz 
Sheri MouawadCanadian ShareOwner Investments Inc.
Ernie NichiporikCredential Securities Inc.
Karen O'ConnorSandstone Asset Management Inc.
Gaston OstiguyPEAK Securities Inc.
Peter PacholkoOdlum Brown Limited
Bernice PangMorgan Stanley Canada Limited
David ParsonsPictet Canada L.P.
Francesco PasinJitneyTrade Inc.
Ellen Paterson 
Joe PavaoSolium Financial Inc.
Sylvain PayetteRenaissance Capital Inc.
Nancy PeckJennings Capital Inc.
Sonia PedersonChi-X Canada ATS Limited
Tino PerciballiBMO Nesbitt Burns Inc.
Cliff PereiraChippingham Financial Group
Rajendra PrasadHSBC Securities (Canada) Inc.
Andrew QuinnQtrade Securities Inc.
Kenneth RedpathMarketAxess Canada Company
Daniel RichardsonJC Clark Ltd.
Fotios SaratsiotisNBCN Inc.
Craig SchleyerWatt Carmichael Inc.
Robert SellarsDundee Securities Ltd.
Andre SianEuro Pacific Canada Inc.
Barbara SimpsonRogers Group Investment Advisors Ltd.
Jane SmithBeacon Securities Limited
Steven SomodiMandeville Private Client Inc.
Casey Spreeuw 
Lynn StibbardHarbourfront Wealth Management Inc.
Stephen StobieCitigroup Global Markets Canada Inc.
David TaskerNBCN Inc.
Manon TessierDesjardins Securities Inc.
Peter VirvilisCanaccord Genuity Corp.
Michael WardParadigm Capital Inc.
John WebsterQueensbury Securities Inc.
Gordon WeirMerrill Lynch Canada Inc.
Thomas WhiteFidelity Clearing Canada ULC
Gillian Wong-HindsByron Capital Markets Ltd.
Thomas WuIntegral Wealth Securities Limited
André ZangaCasgrain & Company Limited
Stefano ZulianiGoldman Sachs Canada Inc.
 

 Alternate Members

 

Alternate Members

  
Mahmood AhamedWoodstone Capital Inc.
Robert Allair 
Rodney AncrumCredential Securities Inc.
Michelle Bieniase3m Investments Inc.
Noah BillickMacDougall, MacDougall & MacTier Inc.
Rob BlanchardHaywood Capital Markets
Douglas ButtersMerrill Lynch Canada Inc.
Brian CalvertRBC Dominion Securities Inc.
Pamela ClarkeJ.P. Morgan Securities Canada Inc.
Christopher CollinsonManulife Securities Incorporated
David CussonEuro Pacific Canada Inc.
Cecile dela CruzNational Bank Financial Ltd.
Wesley DiongCumberland Private Wealth Management Inc.
Ann DriscollPeters & Co. Limited
Christopher EnrightAligned Capital Partners Inc.
Judith FosterScotia Capital Inc.
Christine FulsangK.J. Harrison & Partners Inc.
Iryna Goulet 
MICHAEL GREERAligned Capital Partners Inc.
Karly HealeyCormark Securities Inc.
Jennifer HeibeinTD Securities Inc.
Robert HillHaywood Securities Inc.
Helen HsiaCanadian ShareOwner Investments Inc.
Brett HuffeyLeede Financial Markets Inc.
Dan KessousChi-X Canada ATS Limited
Alain LegrisNational Bank Financial Inc.
James LexovskyRichardson GMP Limited
Thomas McCahon 
Anne MeyerRaymond James Ltd.
Casey MossHaywood Securities Inc.
Andrew MurrayPI Financial Corp.
Kevin NicholsHSBC Securities (Canada) Inc.
Robert O'LearyTD Securities Inc.
Kondelo PapadakisMerrill Lynch Canada Inc.
Dean PercyQuestrade, Inc.
Marina PostFirstEnergy Capital Corp.
Patrick PrimeranoNBCN Inc.
Nevio RafaelicRBC Dominion Securities Inc.
Mohammad SalamTrapeze Capital Corp.
David SchnarrMaple Securities Canada Limited
Bruce SeagoCanadian ShareOwner Investments Inc.
Michel SevignyDesjardins Securities Inc.
Rose SpensieriState Street Global Markets Canada Inc.
Deborah StarkmanGMP Securities L.P.
James StuartUBS Securities Canada Inc.
Irina UrshonTD Bank
Kambiz Vatan-AbadiBBS Securities Inc.
Bruce WetherlyBeacon Securities Limited
Ronald WhiteFidelity Clearing Canada ULC
Helen WilliamsMorgan Stanley Canada Limited
Mary ZavitsanosPictet Canada L.P.
 

 ​Capital Formula

 

Capital Formula

  
Robert Sellars, ChairDundee Securities Ltd.
Holly BensonPeters & Co. Limited
Robert EdwardsScotia Capital Inc.
Jean-Francois HamelTD Waterhouse Canada Inc.
Karly HealeyCormark Securities Inc.
Chandra HenryFirstEnergy Capital Corp.
Bradley KotushCanaccord Genuity Corp.
Bob MarkovskiBMO Nesbitt Burns Inc.
Mario MerolaNational Bank Financial Inc.
Andrew MurrayPI Financial Corp.
Dean PercyQuestrade, Inc.
Rajendra PrasadHSBC Securities (Canada) Inc.
Deborah StarkmanGMP Securities L.P.
Alex TaylorCIBC World Markets Inc.
Michael WardParadigm Capital Inc.
Ronald WhiteFidelity Clearing Canada ULC
André ZangaCasgrain & Company Limited
Frank Barillaro, SRO RepresentativeBourse de Montréal Inc.
Richard Corner, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Bruce Grossman, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Mindy Kwok, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Barbara Love, SRO RepresentativeCanadian Investor Protection Fund
Sonja McCreary, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Ciro Mirabella, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Louis Piergeti, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Answerd Ramcharan, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
 

 Contingency Planning

 

Contingency Planning

  
Guenther Moeller, ChairBMO Nesbitt Burns Inc.
Theressa BaarsTD Waterhouse Canada Inc.
Amy BarlowCDS Inc.
Ed CharronGMP Securities L.P.
Elaine ComeauNational Bank of Canada
Sharon DoiScotia Capital Inc.
Andrei DragalinScotia Bank
Willmond JeungFidelity Clearing Canada ULC
Bradley KotushCanaccord Genuity Corp.
Yvonne LewisCIBC
Grazyna MalasTD Bank
Janet ManskePeters & Co. Limited
Drew McLennanCanaccord Genuity Corp.
Kathleen SchneiderRoyal Bank of Canada
Maysar Al-Samadi, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Sonja McCreary, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
 

 ​Insurance

 

Insurance

  
Tom Monahas, ChairClarus Securities Inc.
James AndrewsIndustrial Alliance Securities Inc.
Paul BaldassariTD Bank
Mario FrankovichBurgeonvest Bick Securities Limited
Stephen GerryUBS Securities Canada Inc.
Maysar Al-Samadi, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Sonja McCreary, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Tammy Smith, SRO RepresentativeCanadian Investor Protection Fund
 

 Mutual Funds Dealers

 

Mutual Funds Dealers

  
Robert Pujo, Co-ChairRBC Dominion Securities Inc.
Fotios Saratsiotis, Co-ChairNBCN Inc.
Sidney BroughamFidelity Clearing Canada ULC
Michael BrownRaymond James Ltd.
William BryceScotia Bank
Braunwyn CurrieTD Bank
Rhonda DaltonScotia Capital Inc.
Cecile dela CruzNational Bank Financial Ltd.
Karen GrantRBC Dominion Securities Inc.
Allan KnightEdward Jones
Michael KonopaskiAligned Capital Partners Inc.
Joe MoronitiCIBC Investor Services Inc.
Jane SmithBeacon Securities Limited
Rosemarie StillieBMO Nesbitt Burns Inc.
Simon WitneyCanaccord Genuity Corp.
Bruce Grossman, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Sonja McCreary, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
 

 Operations

 

Operations

  
Catherine Patterson, ChairRBC Dominion Securities Inc.
Eric AugustynGoldman Sachs Canada Inc.
Alejandro AvellaTD Bank
Jerry BeniukTD Wealth Management
Douglas BennettEdward Jones
Holly BensonPeters & Co. Limited
Douglas ButtersMerrill Lynch Canada Inc.
Ed CharronGMP Securities L.P.
George ChristieMorgan Stanley Canada Limited
Fran DalyCDS Inc.
Judith FosterScotia Capital Inc.
Michael HolmesRaymond James Ltd.
Ernie NichiporikCredential Securities Inc.
Peter PacholkoOdlum Brown Limited
Tino PerciballiBMO Nesbitt Burns Inc.
Nevio RafaelicRBC Dominion Securities Inc.
Loretta RollEdward Jones
Sonia SbarraNBCN Inc.
Peter VirvilisCanaccord Genuity Corp.
Ruby WallisFirstEnergy Capital Corp.
Thomas WhiteFidelity Clearing Canada ULC
Richard Corner, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Sonja McCreary, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Rose Rajaram, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Answerd Ramcharan, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
Naomi Solomon, SRO RepresentativeInvestment Industry Regulatory Organization of Canada
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