Letter from The Editor | Issue 2
By: Cora Pettipas
We have had an exciting quarter at the Western Exempt Market Association! We received a lot of positive feedback on the inaugural issue of this magazine and we are pleased that it is a facilitator of communication and knowledge for our industry. We have a great new graphic designer, Jenelle Miller, who has helped us change the look of the magazine and we will continue to improve this publication with each and every issue.
In this past quarter, we have increased our membership base by 30% and are pleased to welcome all our new members. We encourage your feedback and ideas. The more participation we have from our members, the more we can influence our cause. One area where we would like to grow our membership base is with Advisors that are Dealing Representatives. They are the face and future of our industry and we want them participating in future discussions with regulators, policy makers, and other key parties. Given their importance to our industry, we were pleased to add two Dealing Representatives to our Board of Directors for the upcoming year.
WEMA takes our critics seriously, as that is how we can grow and improve as an organization. One criticism we have received as of late from an investor rights agency is that we are against investor protection, indicated by our public campaign and efforts for the adoption of OM exemption in Ontario. Properly drafted OMs can protect investors, and the OM exemption in Ontario would increase investor rights through creating more options for them. WEMA’s members are fully supportive of all legitimate efforts for investor protection and investor rights. When investors are protected, it increases investor confidence which adds to the prosperity of small business, entrepreneurs, investors, and the economy as a whole. WEMA members and regulators alike want the bad apples gone, as they unfairly bring down the reputation and integrity of our industry.
Our President, Craig Skauge, has significantly increased WEMA’s public profile through interviews in national publications including the Globe and Mail, Financial Post, Investment Executive, and Advisor.ca. He has been asked to speak at numerous events for various associations, including the Canadian Securities Administrators, the Canadian Bar Association, and the CFA Institute. He was also appointed to the OSC’s Exempt Market Advisory Committee which is looking at the adoption of the OM exemption in Ontario. He is working tirelessly to play an advocacy role for more efficient regulation.
As part of our mandate, we are holding an Advisor Education Forum to demystify the Exempt Market to those registered in other categories. It is being held on November 7 in the McLeod Hall at the Telus Convention Center in Calgary, Alberta. To make this event as valuable as possible to attendees, we are partnered with the Business Career College. It is a full day of continuing education for Advisors outside the exempt market to help gain awareness for WEMA and the exempt market in general.
In addition, I will be presenting this month at the Global Business Research Conference in Mexico, and am looking to seek partnerships internationally with alternative investment experts in markets other than Canada, as globalization is an inevitable trend. WEMA is also seeking out strategic alliances with other ethical organizations that have synergies with us.
Be a part of our success! Please consider publishing an article with us, as submissions are open to all WEMA members. The deadline for the next issue is November 15, 2012. WEMA is your industry, your voice, your future.