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 CIRO 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 CIRO-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 CIRO 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 CIRO 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

NameOrganization
Bryan Moffitt, ChairFidelity Clearing Canada ULC
Nikica Prodanovic, Vice-ChairEdward Jones
Massimo CeschiaScotia Capital Inc.
Ann DriscollPeters & Co. Limited
Doug GloverEchelon Wealth Partners Inc.
Michael KonopaskiDesigned Securities
Mario MerolaNational Bank Financial Inc.
Anne MeyerRaymond James
Nancy PeckATB Capital Markets Inc.
Craig SchleyerAligned Capital Partners Inc.
Nevio RafaelicRBC Dominion Securities Inc.
Michael WardParadigm Capital Inc.
Catherine Drennan, CIRO RepresentativeCIRO
Sonja McCreary, CIRO RepresentativeCIRO

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Primary Members

NameOrganization
Bryan Moffitt, ChairFidelity Clearing Canada ULC
Nikica Prodanovic, Vice-ChairEdward Jones
James AndrewsiA Private Wealth Inc.
Jean-Paul BachelleriePI Financial Corp.
Hossam BadawiQueensbury Securities Inc.
Marian BuklisAcker Finley Inc.
Benoit CarignanSociété Générale Capital Canada Inc.
Massimo CeschiaScotia Capital Inc.
Mark ChadakhtzianCTI Capital Securities Inc.
Florence CoenenSociété Générale Capital Canada Inc.
Sara CollinsJ.P. Morgan Securities Canada Inc.
Lloyd CostleyRaymond James Ltd.
Curt CummingGoodwood Inc.
Jim DaleLeede Jones Gable Inc.
Gregory DaviesTriAct Canada Marketplace LP
Peter DeebHampton Securities Limited
Sesto DeLucaW.D. Latimer Co. Limited
Ann DriscollPeters & Co. Limited
Julie DrouinMirabaud Canada Inc.
Louise DuchesneLightyear Capital Inc.
Christopher GageCredit Suisse Securities (Canada), Inc.
Charlena GaulinCIBC
Damian GeorgeWells Fargo Securities Canada, Ltd.
Douglas GloverEchelon Wealth Partners Inc.
Robert GoldbergCaldwell Securities Ltd.
Claudia GourdePictet Canada L.P.
David GynnDeutsche Bank Securities Limited
Jean-Francois HamelTD Waterhouse Canada Inc.
Donald HarringtonResearch Capital Corporation
Karly HealeyCormark Securities Inc.
Helen HsiaPortfolio HiWay Inc.
Yan HuangVered Wealth Management (Canada) Company Limited
Sindy JaggerK.J. Harrison & Partners Inc.
Edward KholodenkoQuestrade, Inc.
Kenneth KlepackiMarketAxess Canada Company
Frank LaferriereWellington-Altus Private Wealth Inc.
Anna LeeCredential Qtrade Securities Inc.
Sylvie MachonRGF Wealth Management Ltd.
Jason MacKeyLeede Jones Gable Inc.
Bob MarkovskiBMO Nesbitt Burns Inc.
Mario MerolaNational Bank Financial Inc.
Myja MillerAcumen Capital Finance Partners Limited
Tom MonahasClarus Securities Inc.
Sheri MouawadCanadian ShareOwner Investments Inc.
Gaston OstiguyPEAK Securities Inc.
Peter PacholkoOdlum Brown Limited
Bernice PangMorgan Stanley Canada Limited
Francesco PasinJitneyTrade Inc.
Kondelo PapadakisMerrill Lynch Canada Inc.
Joe PavaoFoster & Associates Financial Services Inc.
Sylvain PayetteRenaissance Capital Inc.
Keri PeacockBMO Nesbitt Burns
Nancy PeckATB Capital Markets Inc.
Cynthia PhillipsWatt Carmichael Inc.
Ryan QuattriniVirtu Canada Corp.
Nevio RafaelicRBC Dominion Securities Inc.
Answerd RamcharanBarclay’s Capital Canada Inc.
Sebastien ReneNational Bank Financial Inc.
Craig SchleyerAligned Capital Partners Inc.
Jake SchoenbergerIndependent Trading Group
Susan ScullionTudor, Pickering, Holt & Co. Securities - Canada, ULC
Bob SellarsRed Cloud Securities Inc.
Michel SevignyDesjardins Securities Inc.
Andre SianPACE Securities Corp.
Barb SimpsonRGF Wealth Management Ltd.
Jane SmithAssante Capital Management Ltd.
Lynn StibbardHarbourfront Wealth Management Inc.
Stephen StobieCitigroup Global Markets Canada Inc.
Brian SussmanInteractive Brokers Canada Inc.
Jane SytsmaCitadel Securities Canada
Peter VirvilisHaywood Securities Inc.
Michael WardParadigm Capital Inc.
Simon WitneyCanaccord Genuity Corp.
André ZangaCasgrain & Company Limited
Yvette ZhangCI Investment Services Inc.
Stefano ZulianiGoldman Sachs Canada Inc.

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Alternate Members

NameOrganization
Govind AchyuthanAcumen Capital Finance Partners Limited
Donald AllanEdward Jones
Sheera BadialCanaccord Genuity Corp.
Effie BirosTD Securities Inc.
Rob BlanchardHaywood Capital Markets
Sébastien BorgognonPictet Canada L.P.
Michael BrownRaymond James Ltd.
Douglas ButtersMerrill Lynch Canada Inc.
Paul CamarataEdward Jones
Jean CarrierPEAK Securities Inc.
Pamela ClarkeJ.P. Morgan Securities Canada Inc.
Christopher CollinsonManulife Securities Incorporated
Adam ConradLeede Jones Gable Inc.
David CussonEchelon Wealth Partners Inc.
Cecile dela CruzNational Bank Financial Ltd
Jas DhaliwalOdlum Brown
Jean DiMarcoFidelity Clearing Canada ULC
Wesley DiongCumberland Private Wealth Management Inc.
Christopher DoWells Fargo Securities Canada, Ltd.
Mike DobbinMandeville Private Client Inc.
Ann DriscollPeters & Co. Limited
Christopher EnrightAligned Capital Partners Inc.
Sam FarrellCredit Suisse Securities (Canada), Inc.
Christine FulsangK.J. Harrison & Partners Inc.
Martha GillK.J. Harrison & Partners Inc.
Jeffrey GrantAssante Wealth Management
Len GrayVirtu ITG Canada Corp.
Michael GreerAligned Capital Partners Inc.
Myla HartMerrill Lynch Canada Inc.
Jennifer HeibeinTD Securities Inc.
Devon HarrisPeters & Co. Limited
Neal HsiehQuestrade, Inc.
Daniel ImPortfolio Hiway Inc.
Lisa InacioTD Securities Inc.
Gillian KunzaDesigned Securities Ltd.
Geoff LaiCredential Qtrade Securities Inc.
Alain LegrisNational Bank Financial Inc.
James LexovskyChippingham Financial Group
Rick LiGF Securities (Canada) Company Limited
Kenneth LoCanadian ShareOwner Investments Inc.
Lance LongmoreRBC Direct Investing Inc.
David LuVered Wealth Management (Canada) Company Limited
Charles MartelCIBC World Markets Inc.
Jack MastromatteiAligned Capital Partners Inc.
Anne MeyerRaymond James Ltd.
Andrew MurrayPI Financial Corp.
Kevin NicholsHSBC Securities (Canada) Inc.
Elaine PartridgeRaymond James Ltd.
Amanda PierfelicePeak Group
Patrick PrimeranoNational Bank Financial Inc.
Tracey RandellTD Wealth Management
Dante ReinoQuestrade, Inc.
Joe RigaRF Securities Clearing LP
Kevin RobinsonFidelity Clearing Canada ULC
Erik SalkaCredit Suisse
Patrick SinghCredential Qtrade Securities Inc.
Steven SomodiMandeville Private Client Inc.
Rose SpensieriState Street Global Markets Canada Inc.
Joanne TayMorgan Stanley Canada Limited
Laura TourignyRGF Wealth Management Ltd.
Irina UrshonTD Bank
Kambiz Vatan-AbadiCI Investment Services Inc.
Casey WalshParadigm Capital Inc.
John WebsterQueensbury Securities Inc.
Bruce WetherlyBeacon Securities Limited
Julie WigleyOmniVita Custom Wealth Management Inc.
Helen WilliamsMorgan Stanley Canada Limited
Cindy WilsonQuestrade, Inc.
Judith WinstanleyRichardson Wealth Limited
David K. WongBarclay’s Capital Canada Inc.
Zhedong WuBarclay’s Capital Canada Inc.
Stella YannoulakisNational Bank Financial Inc.

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Capital Formula

NameOrganization
Bob Markovski, ChairBMO Nesbitt Burns Inc.
Massimo CeschiaScotia Capital Inc.
Ann DriscollPeters & Co. Limited
Jean-Francois HamelTD Waterhouse Canada Inc.
Myla HartMerrill Lynch Canada
Karly HealeyCormark Securities Inc.
Richard JacobsCIBC World Markets Inc.
Kenneth LoCanadian Shareowner Investments Inc.
Mario MerolaNational Bank Financial Inc.
Anne MeyerRaymond James Ltd.
Martin MoralTD Securities Inc.
Andrew MurrayPI Financial Corp.
Nicola PetrangeloDesjardins Securities
Bob SellarsRed Cloud
Stephen ZaminCitadel Securities Canada ULC
André ZangaCasgrain & Company Limited
Catherine Drennan, CIRO RepresentativeCIRO
Bruce Grossman, CIRO RepresentativeCIRO
Mindy Kwok, CIRO RepresentativeCIRO
Sonja McCreary, CIRO RepresentativeCIRO

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Contingency Planning

NameOrganization
Dave Persaud, ChairBMO Nesbitt Burns Inc.
Dan BruggerCredential Qtrade Securities Inc.
Stuart CollinsCIBC World Markets Inc.
Carolyn DaviesNational Bank of Canada
Joyce FigueiredoFidelity Clearing Canada ULC
Arif KhanCIBC
Darren KwokScotia Capital Inc.
Janet ManskePeters & Co. Limited
Joe RigaRF Securities Clearing LP
Stella YannoulakisNational Bank Financial Inc.
Sonja McCreary, CIRO RepresentativeCIRO

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Mutual Funds Dealers

NameOrganization
Karen Grant, ChairRBC Dominion Securities Inc.
Steve BraugirouxNational Bank Financial Ltd
William BryceScotia Bank
Paul CamarrattaEdward Jones
Braunwyn CurrieTD Bank
Farhan KaziQuestrade, Inc.
Joe MoronitiCIBC Investor Services Inc.
Shaun NoorzayCredential Qtrade Securities Inc.
Elaine PatrideRaymond James Ltd.
Grace SinghBMO Nesbitt Burns Inc.
Amanda SprouleFidelity Clearing Canada UL
Judith WinstanleyRichardson Wealth Limited
Eugene WongCanaccord Genuity Corporation
Bruce Grossman, CIRO RepresentativeCIRO
Sonja McCreary, CIRO RepresentativeCIRO

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Operations

NameOrganization
Jean Dimarco, ChairFidelity Clearing Canada
Douglas ButtersMerrill Lynch Canada Inc.
Evan CohenBMO Nesbitt Burns Inc.
Ann DriscollPeters & Co. Limited
Dianne DuffyMorgan Stanley Canada Limited
Nelson Dugré-SassevilleNational Bank Financial Inc.
Shawn FernandezCIBC World Markets Inc.
Sally Haldenby-HabaCaldwell Securities Ltd.
Lance LongmoreRBC Direct Investing Inc.
Peter PacholkoOdlum Brown Limited
Nikica ProdanovicEdward Jones
Nevio RafaelicRBC Dominion Securities Inc.
Tracey RandellTD Wealth Management
Liz SamsonWealthsimple Investments Inc.
Patrick SinghCredential Qtrade Securities Inc.
Brian SussmanInteractive Brokers Canada Inc.
Kamran VafaeiScotia Capital Inc.
Cindy WilsonQuestrade, Inc.
Simon WitneyCanaccord Genuity Corp.
Catherine Drennan, CIRO RepresentativeCIRO
Sonja McCreary, CIRO RepresentativeCIRO

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