Financial and Operations Advisory Section (FOAS)

Reports To

Member Regulation Policy


Specific Responsibilities

The Section advises on the development of rules and policies on financial and operational related matters affecting Dealer Members, And, it provides a forum for the exchange of information on complying with IIROC and other requirements that relate to financial and operational related matters.

The Section is responsible for organizing seminars (including the annual Financial and Operations Advisory Section Conference) on financial, operations and general securities industry issues to assist in educating IIROC-regulated persons.


Membership

Membership in the Section is 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.

Standing Members are:

  • President (or another officer of IIROC designated by the President)
  • Chair of the Board (or another member of the Board designated by the Chair of the Board)

Liaison Officers: Liaison officers shall be appointed by the Section to represent:

  1. The Bourse de Montreal;
  2. Canadian Depository for Securities;
  3. FundSERV Inc.;
  4. The Canadian Derivatives Clearing Corporation and
  5. The Canadian Investor Protection Fund.

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

The Vice-President, Member Regulation Policy will review all nominees and recommend appointments. The Senior Vice-President, Member Regulation will approve the appointments to the Section.


Show of Support

Each Member with members in the Section shall be entitled to one (1) show of support 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) show of support at the Section's meetings. The individual chairing the Section meeting (the Chair, Vice-Chair or his or her designate) shall only vote in the case of a tie vote.


Chair and Vice-Chair

The Chair and Vice-Chair of the Section shall hold office for a two-year term commencing on the date of the Section Annual Meeting of the relevant year. In order to ensure continuity, the Vice-Chair will assume the role of Chair of the Executive Committee for the subsequent two-year period.


Meeting Schedule

The Section will meet a minimum of three times annually at the request of the Vice-President, Member Regulation Policy. Special meetings may be called at the request of the Chair, the Senior-Vice President, Member Regulation or the President and CEO.


Executive Committee

The Section shall be governed by an Executive Committee comprised of the Chair and Vice-Chair of the Section, with up to 13 additional members. Only one person from each member may sit on the Executive Committee for the subsequent two-year period.

Chair and Vice-Chair: The Chair and Vice-Chair of the Section shall be the same individuals and be subject to the same term limits as the Chair and Vice-Chair of the Section, respectively.

A Nominating Committee comprised of the Chair and Vice-Chair shall submit to the Section Annual Meeting a list of persons that it recommends 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) and business size (small, medium and large sized firms) basis.

Appointment Process: The Vice-President, Member Regulation Policy will review all nominees and recommend appointments to the Senior Vice-President. The Senior Vice-President, Member Regulation will approve the appointments to the Executive Committee.


Sub-Committees

Standing Sub-Committees may be established at the initiative of IIROC with input from the Executive Committee.

Appointment Process: The Vice-President, Member Regulation Policy will review all nominees and recommend appointments to the Senior Vice-President. The Senior Vice-President, Member Regulation will approve the appointments to the Sub-Committee.


Executive

Charlena Gaulin, Chair CIBC
Massimo Ceschia  Scotia Capital Inc.
Lloyd Costley  Raymond James Ltd.
Mario Merola     National Bank Financial Inc.
Bryan Moffitt   Fidelity Clearing Canada ULC
Nancy Peck    ATB Capital Markets Inc.
Dean Percy    Questrade, Inc.
Nikica Prodanovic  Edward Jones
Nevio Rafaelic    RBC Dominion Securities Inc.
Michael Ward  Paradigm Capital Inc.
Noura Younis  BMO Nesbitt Burns Inc.
Richard Corner, SRO Representative Investment Industry Regulatory Organization of Canada
Sonja McCreary, SRO Representative  Investment Industry Regulatory Organization of Canada

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Primary Members

Charlena Gaulin, Chair    CIBC
Rodney Ancrum   Credential Qtrade Securities Inc.
James Andrews    iA Private Wealth Inc.
Jean-Paul Bachellerie  PI Financial Corp.
Marian Buklis  Acker Finley Inc.
Benoit Carignan  Société Générale Capital Canada Inc.
Jean Carrier   PEAK Securities Inc.
Massimo Ceschia Scotia Capital Inc.
Mark Chadakhtzian  CTI Capital Securities Inc.
Florence Coenen  Société Générale Capital Canada Inc.
Sara Collins  J.P. Morgan Securities Canada Inc.
Lloyd Costley       Raymond James Ltd.
Curt Cumming Goodwood Inc.
Jim Dale  Leede Jones Gable Inc.
Gregory Davies TriAct Canada Marketplace LP
Peter Deeb     Hampton Securities Limited
Sesto DeLuca W.D. Latimer Co. Limited
Julie Drouin  Mirabaud Canada Inc.
Louise Duchesne Lightyear Capital Inc.
Christopher Gage  Credit Suisse Securities (Canada), Inc.
Douglas Glover  Echelon Wealth Partners Inc.
Robert Goldberg  Caldwell Securities Ltd.
Claudia Gourde Pictet Canada L.P.
David Gynn    Deutsche Bank Securities Limited
Jean-Francois Hamel  TD Waterhouse Canada Inc.
David Hanslip  UBS Securities Canada Inc.
Donald Harrington  Research Capital Corporation
Karly Healey         Cormark Securities Inc.
Helen Hsia  Portfolio HiWay Inc.
Sindy Jagger    K.J. Harrison & Partners Inc.
Edward Kholodenko    Questrade, Inc.
Frank Laferriere  Mandeville Private Client Inc.
Sylvie Machon RGF Wealth Management Ltd.
Jason MacKey Leede Jones Gable Inc.
Bob Markovski BMO Nesbitt Burns Inc.
Myja Miller    Acumen Capital Finance Partners Limited
Bryan Moffitt   Fidelity Clearing Canada ULC
Tom Monahas  Clarus Securities Inc.
Sheri Mouawad Canadian ShareOwner Investments Inc.
Gaston Ostiguy PEAK Securities Inc.
Peter Pacholko  Odlum Brown Limited
Bernice Pang   Morgan Stanley Canada Limited
Francesco Pasin  JitneyTrade Inc.
Joe Pavao   Foster & Associates Financial Services Inc.
Sylvain Payette Renaissance Capital Inc.
Nancy Peck ATB Capital Markets Inc.
Dean Percy  Questrade, Inc.
Cynthia Phillips    Watt Carmichael Inc.
Rajendra Prasad Gravitas Securities Inc.
Nikica Prodanovic  Edward Jones
Nevio Rafaelic     RBC Dominion Securities Inc.
Kenneth Redpath MarketAxess Canada Company
Sebastien Rene   National Bank Financial Inc.
Craig Schleyer  Aligned Capital Partners Inc.
David Schnarr    
Susan Scullion  Tudor, Pickering, Holt & Co. Securities - Canada, ULC
Michel Sevigny  Desjardins Securities Inc.
Andre Sian PACE Securities Corp.
Jane Smith  Assante Capital Management Ltd.
Lynn Stibbard   Harbourfront Wealth Management Inc.
Stephen Stobie Citigroup Global Markets Canada Inc.
Brian Sussman   Interactive Brokers Canada Inc.
Peter Virvilis Haywood Securities Inc.
Michael Ward Paradigm Capital Inc.
Gordon Weir Merrill Lynch Canada Inc.
Simon Witney Canaccord Genuity Corp.
Paul Wraggett  Queensbury Securities Inc.
Noura Younis  BMO Nesbitt Burns Inc.
Stephen Zamin  Citadel Securities Canada ULC
André Zanga  Casgrain & Company Limited
Yvette Zhang CI Investment Services Inc.
Stefano Zuliani  Goldman Sachs Canada Inc.

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Alternate Members

Govind Achyuthan   Acumen Capital Finance Partners Limited
Donald Allan  Edward Jones
Sheera Badial  Canaccord Genuity Corp.
Effie Biros   TD Securities-Toronto-19th Floor - 66 Wellington Street West
Bob Bishop  CIBC Client Services
Rob Blanchard  Haywood Capital Markets
Sébastien BORGOGNON  Pictet Canada L.P.
Michael Brown  Raymond James Ltd.
Tom Brown Queensbury Securities Inc.
Douglas Butters  Merrill Lynch Canada Inc.
Paul Camarata  Edward Jones
John Cambareri    
Pamela Clarke J.P. Morgan Securities Canada Inc.
Christopher Collinson  Manulife Securities Incorporated
Adam Conrad  Leede Jones Gable Inc.
David Cusson    Echelon Wealth Partners Inc.
Cecile dela Cruz    National Bank Financial Ltd
Jean DiMarco Fidelity Clearing Canada ULC
Wesley Diong  Cumberland Private Wealth Management Inc.
Christopher Do   Wells Fargo Securities Canada, Ltd.
Mike Dobbin Mandeville Private Client Inc.
Ann Driscoll  Peters & Co. Limited
Christopher Enright  Aligned Capital Partners Inc.
Sam Farrell     Credit Suisse Securities (Canada), Inc.
Christine Fulsang  K.J. Harrison & Partners Inc.
Iryna Goulet    
Len Gray Virtu ITG Canada Corp.
MICHAEL GREER  Aligned Capital Partners Inc.
Jennifer Heibein     TD Securities-Toronto-19th Floor - 66 Wellington Street West
Neal Hsieh Questrade, Inc.
Lisa Inacio      TD Securities Inc.
Andrew Kerrison    Questrade, Inc.
Alain Legris  National Bank Financial Inc.
James Lexovsky  Chippingham Financial Group
Rick Li   GF Securities (Canada) Company Limited
Jason Longmore  RBC Direct Investing Inc.
Charles Martel  CIBC World Markets Inc.
Jack Mastromattei    Aligned Capital Partners Inc.
Anne Meyer    Raymond James Ltd.
Andrew Murray PI Financial Corp.
Kevin Nichols HSBC Securities (Canada) Inc.
Kondelo Papadakis   Merrill Lynch Canada Inc.
Elaine Partridge      Raymond James Ltd.
Patrick Primerano    National Bank Financial Inc.
Tracey Randell    TD Wealth Management
Dante Reino Questrade, Inc.
Joe Riga    RF Securities Clearing LP
Kevin Robinson    Fidelity Clearing Canada ULC
Steven Somodi     Mandeville Private Client Inc.
Rose Spensieri  State Street Global Markets Canada Inc.
Joanne Tay  Morgan Stanley Canada Limited
Laura Tourigny RGF Wealth Management Ltd.
Kuno Tucker  Paradigm Capital Inc.
Irina Urshon  TD Bank
Kambiz Vatan-Abadi  CI Investment Services Inc.
John Webster  Queensbury Securities Inc.
Bruce Wetherly  Beacon Securities Limited
Thomas White  Credential Qtrade Securities Inc.
Julie Wigley  OmniVita Custom Wealth Management Inc.
Alexandra Williams  Credential Qtrade Securities Inc.
Helen Williams    Morgan Stanley Canada Limited
Judith winstanley   Richardson Wealth Limited
Stella Yannoulakis  National Bank Financial Inc.

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Capital Formula

Mario Merola, Chair National Bank Financial Inc.
Massimo Ceschia     Scotia Capital Inc.
Jean-Francois Hamel  TD Waterhouse Canada Inc.
MYLA HART  
Karly Healey  Cormark Securities Inc.
Kenneth Lo  RBC Capital Markets
Bob Markovski BMO Nesbitt Burns Inc.
Anne Meyer Raymond James Ltd.
Andrew Murray    PI Financial Corp.
Dean Percy  Questrade, Inc.
Erick Yoon  RF Securities Clearing LP
Stephen Zamin  Citadel Securities Canada ULC
André Zanga Casgrain & Company Limited
Richard Corner, SRO Representative  Investment Industry Regulatory Organization of Canada
Bruce Grossman, SRO Representative  Investment Industry Regulatory Organization of Canada
Mindy Kwok, SRO Representative  Investment Industry Regulatory Organization of Canada
Sonja McCreary, SRO Representative Investment Industry Regulatory Organization of Canada
Ciro Mirabella, SRO Representative   Investment Industry Regulatory Organization of Canada
Louis Piergeti, SRO Representative Investment Industry Regulatory Organization of Canada

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Contingency Planning

Dave Persaud, Chair    BMO Nesbitt Burns Inc.
Dan Brugger Credential Qtrade Securities Inc.
Stuart Collins  CIBC World Markets Inc.
Elaine Comeau National Bank of Canada
Joyce Figueiredo Fidelity Clearing Canada ULC
Arif Khan CIBC
Darren Kwok Scotia Capital Inc.
Janet Manske  Peters & Co. Limited
Joe Riga    RF Securities Clearing LP
Stella Yannoulakis     National Bank Financial Inc.
Sonja McCreary, SRO Representative Investment Industry Regulatory Organization of Canada

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Insurance

Tom Monahas, Chair   Clarus Securities Inc.
James Andrews  
Paul Baldassari  TD Bank
Mario Frankovich   
Stephen Gerry  
Sonja McCreary, SRO Representative  Investment Industry Regulatory Organization of Canada
Tammy Smith, SRO Representative  Canadian Investor Protection Fund

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Mutual Funds Dealers

Karen Grant, Co-Chair    RBC Dominion Securities Inc.
Steve Braugiroux        National Bank Financial Ltd
William Bryce    Scotia Bank
Paul Camarratta Edward Jones
Braunwyn Currie TD Bank
Lulu Feng  Questrade, Inc.
Geoff Lai Credential Qtrade Securities Inc.
Jack Mastromattei    Aligned Capital Partners Inc.
Joe Moroniti  CIBC Investor Services Inc.
Elaine Patride Raymond James Ltd.
Ryan Roe  Credential Qtrade Securities Inc.
Grace Singh BMO Nesbitt Burns Inc.
Amanda Sproule Fidelity Clearing Canada UL
Judith Winstanley  Richardson Wealth Limited
Eugene Wong Canaccord Genuity Corporation
Richard Corner, SRO Representative  Investment Industry Regulatory Organization of Canada
Bruce Grossman, SRO Representative Investment Industry Regulatory Organization of Canada
Sonja McCreary, SRO Representative  Investment Industry Regulatory Organization of Canada

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Operations

Nikica Prodanovic, Chair    Edward Jones
Jason Longmore, Vice-Chair RBC Direct Investing Inc.
Douglas Butters   Merrill Lynch Canada Inc.
Jean Dimarco Fidelity Clearing Canada 
Ann Driscoll Peters & Co. Limited
Dianne Duffy  Morgan Stanley Canada Limited
Andrew Kerrison  Questrade, Inc.
Jon Midanik  CIBC world Markets Inc.
Bryan Moffitt  Fidelity Clearing Canada ULC
Peter Pacholko  Odlum Brown Limited
Nevio Rafaelic  RBC Dominion Securities Inc.
Tracey Randell  TD Wealth Management
Joe Riga  RF Securities Clearing LP
Sonia Sbarra  NBCN Inc.
Patrick Singh Credential Qtrade Securities Inc.
Brian Sussman   Interactive Brokers Canada Inc.
Kamran Vafaei   Scotia Capital Inc.
Simon Witney Canaccord Genuity Corp.
Noura Younis BMO Nesbitt Burns Inc.
Richard Corner, SRO Representative    Investment Industry Regulatory Organization of Canada
Sonja McCreary, SRO Representative Investment Industry Regulatory Organization of Canada

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