CSA 95/01 - Conflicts of Interest [CSA Notice - Rescinded]
| Published Date: | 1995-01-13 |
|---|---|
| Effective Date: | 1995-01-12 |
The Canadian Securities Administrators ("CSA") are undertaking a review of the conflict of interest regimes that were instituted in Alberta, British Columbia, Nova Scotia, Ontario and Québec at the time ownership of the securities industry was deregulated. This review consists of two concurrent approaches. In November, a Request for Comments and staff discussion paper were published in the Alberta Securities Commission Summary and the Ontario Securities Commission Bulletin and made available for distribution at the offices of the securities administrators in British Columbia and Québec (see NIN#94/24). The deadline for submissions to the Request for Comments is January 31, 1995. Submissions should be sent to:
The Secretary
Ontario Securities Commission
20 Queen Street West
Toronto, Ontario
M5H 3S8
In addition, the CSA has established a consultative committee to assist in the formulation of recommendations regarding underwriting conflicts of interest. Submissions, when received in response to the Request for Comments, will be considered by the committee. Accordingly, early responses to the Request would be greatly appreciated.
The committee is chaired by a representative of the CSA and is made up of CSA appointees and senior representatives from various market participant groups including dealers, issuers and investors.
The committee members are:
CSA Representatives:
John A. Geller Vice-Chair, Ontario Securities Commission
(Chair)
William L. Hess Chair, Alberta Securities Commission
Tanis J. MacLaren Deputy Director, Capital Markets/International Markets,
Ontario Securities Commission
Joëlle St. Arnault Legal Counsel, Québec Securities Commission
Issuer Representatives:
Robert H. Kidd Senior Vice-President & CFO, George Weston Limited
Gordon W. Steele Chairman, President & CEO, Riverside Forest Products Limited
Investor Representatives:
Henry Rachfalowski Vice-President, Portfolio Management,
Ontario Municipal Employees Retirement System
Donald Walcot Chief Investment Officer, Bimcor Inc.
Securities Industry Representatives:
James T. Kiernan President, Goldman Sachs Canada
Joseph J. Oliver Vice-President & Director, Investment Banking, First Marathon Securities Limited
R. Jeffrey Orr Executive Vice-President & Director, Investment Banking, Nesbitt Burns Inc.
Daniel F. Sullivan Deputy-Chairman, ScotiaMcLeod Inc.
The committee's initial report is expected to be published by the end of February, 1995.
REF: NIN#94/24
January 12, 1995