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

Mario Merola, Chair National Bank Financial Inc.
Bryan Moffitt, Vice-Chair Fidelity Clearing Canada ULC
Massimo Ceschia Scotia Capital Inc.
Doug Glover Echelon Wealth Partners Inc.
Michael Konopaski Designed Securities
Anne Meyer Raymond James
Nancy Peck ATB Capital Markets Inc.
Dean Percy Questrade, Inc.
Nikica Prodanovic Edward Jones
Craig Schleyer Aligned Capital Partners Inc.
Nevio Rafaelic RBC Dominion Securities Inc.
Michael Ward Paradigm Capital Inc.
Alexandra Williams Credential Qtrade Securities Inc.
Catherine Drennan, SRO Representative Investment Industry Regulatory Organization of Canada
Sonja McCreary, SRO Representative Investment Industry Regulatory Organization of Canada

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Primary Members

Mario Merola, Chair National Bank Financial Inc.
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.
Charlena Gaulin CIBC
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.
Keri Peacock BMO Nesbitt Burns
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
Bob Sellars Red Cloud Securities Inc.
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.
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
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
Jas Dhaliwal Odlum Brown
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  
Jeffrey Grant Assante Wealth Management
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.
Gillian Kunza Designed Securities Ltd.
Alain Legris National Bank Financial Inc.
James Lexovsky Chippingham Financial Group
Rick Li GF Securities (Canada) Company Limited
Kenneth Lo Canadian ShareOwner Investments Inc.
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.
Bob Markovski, Vice-Chair BMO Nesbitt Burns Inc.
Massimo Ceschia Scotia Capital Inc.
Jean-Francois Hamel TD Waterhouse Canada Inc.
Myla Hart Merrill Lynch Canada
Karly Healey Cormark Securities Inc.
Vik Khullar CIBC World Markets
Kenneth Lo Canadian Shareowner Investments Inc.
Anne Meyer Raymond James Ltd.
Martin Moral TD Securities Inc.
Andrew Murray PI Financial Corp.
Dean Percy Questrade, Inc.
Nicola Petrangelo Desjardins Securities
Bob Sellars Red Cloud
Erick Yoon RF Securities Clearing LP
Stephen Zamin Citadel Securities Canada ULC
André Zanga Casgrain & Company Limited
Catherine Drennan, 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

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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.
Carolyn Davies 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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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.
Jack Mastromattei Aligned Capital Partners Inc.
Joe Moroniti CIBC Investor Services Inc.
Shaun Noorzay Credential Qtrade Securities 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
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
Keri Peacock BMO Nesbitt Burns
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.
Catherine Drennan, SRO Representative Investment Industry Regulatory Organization of Canada
Sonja McCreary, SRO Representative Investment Industry Regulatory Organization of Canada

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