The PCMA is proud to welcome Knightswood (www.
knightswood.ca) as a new PCMA Founding Sponsor. The PCMA
recognizes the valuable contributions of all Founding Sponsors
that have played an important role in establishing and supporting
the PCMA across Canada. Their support enables the PCMA to
tackle serious policy and regulatory issues in a thoughtful manner
and it is a key part of our mission in representing our members.
If you are interested in becoming a Founding Sponsor please
contact us at firstname.lastname@example.org
New PCMA Founding Sponsor
The Private Capital Markets Association
of Canada’s (PCMA) primary goal is to be
an effective national industry voice for its
members and to help its members navigate
their regulatory obligations.
We focus on effective advocacy,
in-depth educational events, networking
opportunities, publications with timely in-depth regulatory
updates that drive industry dialogue around regulatory change,
and providing valuable membership benefits. Our strength is our
membership. It includes small and large firms, dealers, issuers and
industry professionals and individuals from across our industry.
We come together to support the PCMA, drive its agenda and
ensure the PCMA serves the unique interests of Canada’s private
The PCMA has designed a membership survey to evaluate
the satisfaction of our members with the current PCMA programs
and services and to hear your feedback on how we can improve
our services, stay focused on the right priorities, identify ways to
help you succeed in your business, and ensure there continues to
be strong value in being a PCMA member.
Your participation is very important to us. With 10 minutes of
your time you can help us strengthen the PCMA and help build
a stronger private capital markets community for all of us. As a
token of our appreciation for your time and input, we would like to
offer you a 15% discount for the PCMA annual membership fee.
To access the survey, please log in to your profile at
www.pcmacanada.com and you will see the membership survey
icon on top of the page of your profile.
PCMA Membership Survey 2014
On September 22, 2014, the PCMA gave a two hour
presentation to the full OBSI Board of Directors and senior
management. We engaged the OBSI in a discussion on the
background of the exempt markets, current challenges facing
exempt market dealers and the various policy reforms being
debated by regulators.
The PCMA reinforced its public concerns about OBSI’s
preparation for handling client complaints from EMD’s and
identified a number of key issues: 1) the lack of representation
of EMDs on the OBSI governing Board, 2) no clear methodology
for loss attribution for exempt and illiquid securities, 3) the
lack of a western Canada presence for OBSI, 4) uncertainty
on how OBSI will handle investor losses when issuers fail (i.e.
will dealers will bear the brunt of issuer losses?), 5) the need
for knowledgeable exempt market OBSI staff to handle the
uncertain case load, 6) resolving continued concerns over OBSI
procedural fairness and lack of appeal processes for firms, and
7) the need to continue to inform the industry about OBSI’s
experiences with EMD related cases.
A very positive working relationship has been formed between
the PCMA and OBSI. The PCMA is committed to working with
OBSI senior management and Board to achieve the best possible
outcomes for the industry and investors as the initial EMD related
client cases are considered in 2014/2015.
PCMA presents to OBSI Board of Directors