Letter From The Editor | Issue 3
By: Cora Pettipas
Thank you to all our members for your ongoing contributions to WEMA and our initiatives. We are now the largest exempt market association in Canada. As we continue to grow, we will remain committed to our grass roots spirit and our focus on helping shape and cultivate the integrity of this important part of the Canadian economy. We also want to thank everyone who participated in our Exempt Market Education Forum in Calgary, Alberta. Our stretch goal was to have 250 in attendance and we ended up with 300 advisors and financial professionals present. The response we received was overwhelmingly positive. This indicates the financial services industry is interested in learning about the exempt market in Canada, and what opportunities it can offer their clients. If you missed it, you can view the videos on YouTube through our website link.
Despite our Western roots and namesake, we have been increasing our membership base in Eastern Canada and are in an ideal position to represent and support this market, especially those in Ontario. WEMA is fully committed to our mandate on a national level. We are very proud of the active contributions of our members in our successful public mailing campaign for Ontario, which initiated the creation of the Ontario Securities Commission Exempt Market Advisory Committee and the appointment of our President, Craig Skauge to the same. We are in a fortified position to help shape the private capital markets in Ontario due to our vast experience with the prospectus exemptions (namely the OM exemption) available in the West. Our talented members and directors have direct experience working in the retail exempt market. WEMA has leading expert knowledge to provide the most relevant voice on how to improve our industry for business, dealers, advisors, regulators, and investors alike.
Education for investors and advisors is vital to supporting our industry’s high growth rate and promoting its integrity. WEMA is pleased to announce our partnership with the Business Career College to further our mandate of continuing education and professional development in the Exempt Market. The Business Career College offers quality licensing programs, including preparation courses for the exempt market. They have offices in Calgary, Edmonton, Toronto and Vancouver. Bob Watt; president and founder of Business Career College has accepted a role at WEMA as Chair of Education Initiatives. We welcome Bob to our team and look forward to working together on education development and enhancement for both existing and prospective Dealing Representatives, as well as investors. Bob Watt, will be Chair of WEMA’s education subcommittee.
WEMA has also formed a second subcommittee dedicated to ongoing improvements in compliance best practices. This committee will be chaired by Kathleen Black who is the Chief Compliance Officer of Pinnacle Wealth Brokers and has 27 combined years experience in IIROC, MFDA, and the exempt market. Kathleen has a vast skill set and passion for compliance, and was one of the founding members of the Association of Canadian Compliance Professionals in Canada, and also made past contributions to the Western MFDA Hearing Panel and the IFIC AML committee. The purpose of this subcommittee is to share experience and best practices about how to adequately navigate regulatory rigor and ambiguity. Both subcommittees will meet quarterly and report back to WEMA’s directors. They will also contribute regular articles to our publication. Congratulations to both Bob and Kathleen on their initiatives. If you want to participate in either our education or compliance subcommittee, apply by emailing me at email@example.com
In an effort to ensure there is a collective place where people can follow all the great work of our members through their own events and initiatives, we have established an online events calendar on our homepage. Please email us with your events. Members are also always more than welcome to participate in this publication. Please continue to email me with your ideas and concerns as WEMA is your industry, your voice, and your future.
This publication, the Exempt Edge, is a part of WEMA’s efforts to provide quality information and education about the exempt market to industry and financial professionals. In just six months and after only two issues, we have grown to an online distribution of 11,000 people. The feedback we have gotten on this publication has been overwhelmingly positive. We thought we would share what some of our industry leaders are saying about this magazine:
“We received the recent hard copy of the Exempt Edge. It looks fantastic! This is a wonderful contribution to the professionalism of the growing exempt market sector.” - Rod Burylo, National Marketing Director of Access Capital
“Exempt Edge is an excellent resource which serves to unite the exempt market.” - Brian Tang, President of Fundamental Analyst
“I have been involved in the exempt market world since 1995. The September issue of Exempt Edge was both informative and sends a notice that we are here to stay. Articles were informative and substantiated that WEMA is garnering traction with the best yet to come. Our collective efforts will assure WEMA’s strength in the coming years.” - Gord Bylo, President & CEO, Investec Solutions Inc.
“Everyday I spend a couple of hours reading published material regarding the financial industry and find Exempt Edge to be a high quality and informative publication.”- William McNarland, CFA, Founder and Managing Director of Exempt Analyst
“Exempt Edge serves as my window into the exempt market as a whole and the western market in particular. Our practice is based in Quebec but we are forging significant relationships with Dealers and Issuers in Western Canada and the magazine allows us to keep abreast of the trends and tendencies of the industry which we can then act upon making us more agile and responsive. I give high praise to the team at Exempt Edge for a well-documented and pertinent publication that adds to the credibility of the exempt market.”- Eric Cardinal, Investment Banker, IBS Capital S.E.N.C.
“I can say without hesitation that this is an excellent compilation of information. The style is clear, informative, engaging and the material is very carefully organized. The Exempt Edge has truly made a very concerted effort to “demystify” the Exempt Industry and has become a resource for the advisor, issuer and the dealer to stay updated with the news of our industry.”- Riki Roy, President, Omnus Investments Ltd