Letter From The Editor | Issue 5
By: Cora Pettipas
In preparation for writing this, I looked at the editor’s letter I wrote for our first issue, exactly one year ago. I am heartened that we as an association, with the support of our talented members, were able to follow through, and excel, on all our promises. We are now the leading national association representing the Exempt Market, and are very proud of the work we have been able to do this year, and the positive changes we have made for our members, and for the industry as a whole.
I would like to thank our founder and President of NEMA, Craig Skauge. Without his tireless efforts, passion for the industry, and talents we would not have advanced so much in such a short time. I would also like to thank our Board of Directors and our Committee Members for donating their time, expertise and talents to the work we have done this year. As always, I would like to thank our members for their passion, enthusiasm and continued support, it is a pleasure to serve you, and this industry.
Successes of NEMA – A Year in review
Here are some of the highlights of our successful year:
To meet the needs of our growing membership base and responsibilities, we successfully rebranded from the Western Exempt Market Association to the National Exempt Market Association in January, 2013.
Provided audited financial statements of NEMA to provide full transparency of the use of resources to members and industry.
NEMA provides a ‘members list’ on our website with member logos and links to their websites to increase accessibility and reach for our members.
In the past year, NEMA has grown from 100 members to over 250 members made up of EMDs, Issuers, Service Providers, and Dealing Representatives.
The successful launch of this publication. The Exempt Edge has an educational focus on industry best practices and knowledge sharing.
Under the advisement and direction of our Exempt Market Education Committee, we have built an education resource; ExemptEducation.ca. This website will be officially launched this summer, and provides basic explanations of our market to the general public with tips on how to navigate and invest in the Exempt Market.
Formation of our CCO Committee, which has achieved collaboration by EMD CCOs and compliance lawyers. This committee has resulted in sharing and building industry best practices as well as allowing EMDs to assist each other in regulatory requests that come up, so that our industry can handle changes and potential ambiguities in a unified manner.
NEMA has responded to all comment periods relevant to the Exempt Market put forth to the Canadian regulators.
Successful collaboration with regulators including the efforts to harmonize rules across Canada with focused efforts in Ontario. Resulting in OSC initiating an Exempt Market Review and NEMA participating in the OSC Exempt Market Advisory Committee, which includes NEMA’s president, Craig Skauge.
The industry’s first Exempt Market Education Forum, which had 300 attendees November 7, 2012 in Calgary Alberta. The event was FPSC and IIROC accredited. Successful collaboration with Radius Financial Education on WAISC to continue this effort to bring high quality educational conferences to the Exempt Market.
NEMA is very proud of the successful initiatives and positive actions we have executed this past year. However, we are not the type of group to rest on our laurels, and coast on the reputation we have built. There is still much work that needs to be done for our industry, and we are ready to roll up our sleeves and have another banner year. If we are not empowered to run our industry, it will be run for us: possibly by individuals whom have never met with a client, gave investment advice, or even taken a finance course.
This magazine is a concentrated effort to communicate about what is on the minds of our members, and the questions, issues, and ideas we are hearing about most in the Exempt Market. We are only as strong as the bond we have with our members, so please continue to communicate to us any issues or ideas you have as we will integrate these ideas into our strategic initiatives in the coming year, as well as this publication, because NEMA is your industry, your voice, and your future.