Top 6 Reasons to Join PMAC

Who Is PMAC and What Do We Do?

Established in 1952, PMAC currently provides compliance support, professional networking, government advocacy, education and corporate cost savings to over 170 registered portfolio managers across Canada. With a total AUM in excess of $800B, PMAC’s aim is to “advance standards” of its members and the industry by supporting members in being up to date with securities and tax regulation and leading edge with industry best practices.

Why Join?

Members benefit from collaborating with each other to advocate to government views on regulation, share best practices and network with colleagues to help keep current on changes in industry regulation. We take the responsibility of “Advancing Standards” seriously. Here are the top 6 reasons to join one of Canada’s leading investment industry associations:

1. Education:

Seminars, events, annual conference and e-bulletins help keep members informed on the latest compliance, regulatory and industry developments.

  • Participate in the many PMAC event offerings on leading topics and hot issues.
  • Recent seminars covered topics such as FATCA and other U.S. regulations, ETFs, GIPs, and AML Compliance. Past seminar and presentation materials (and often, audio) are made available to members.

2. Information Exchange:

Exchange best practices, templates, sample policies and guidelines, regulatory information and more. These benefits help your operation excel and remain abreast of regulatory changes.

  • Sample Policies & Templates:
    • PMAC Investment Management Agreement
    • PMAC Investment Policy Statement
    • PMAC Reference Guide for Policies and Procedures Manual
    • PMAC Guideline on Preparing an Annual CCO Report to the Board
    • PMAC Conflict of Interest – General Disclosure Template
  • Surveys:
    • PMAC Annual Compensation Survey Report – Report includes detailed compensation information from 22 key positions. Survey report is available at no charge to members who submit survey data. $500 charge for members who do not submit salary data.
    • PMAC Compliance Benchmarking Survey Report – Over 100 firms participated in this comprehensive survey. The survey included topics such as firms’ compliance programs, trade allocation and best execution, oversight of third parties, marketing practices, personal trading activities and social media. Survey report is available at no charge to members who submitted survey data. $500 charge for members who do not submit data.
    • Polls/Surveys – Ability to survey your peers or poll in networking groups operational and compliance questions.
  • Monthly E-bulletins:
    • Keeping members up to date on all PMAC initiatives.
    • Providing members with updates on PMAC events, seminars and information sessions, updates on advocacy efforts and other services available.

3. Corporate Cost Savings:

Services are available to members at reduced group rates to support meeting regulatory obligations and improving operational practices.

  • Financial Institution Bond & Professional Liability Insurance (cost savings of 5 – 15% depending on AUM*). This customized program for portfolio managers is underwritten by Chubb Insurance. Non-members may obtain a quote for comparison purposes but program is open to members only.
    • New Insurance Application and Coverage Enhancements. For additional information, contact Darren Rodrigues, HUB International, telephone (905) 948-0377 extension 361, email:
    • Below are estimates for firms with AUM of less than $100M; please note E&O is a requirement of membership effective December 2012. Some transitional rules apply.
  • Errors and Omissions/Professional Liability (Premium Estimates*):

    AUM/Deductibles $250K Limit $500K Limit
    Less than $50M $2,000+ $4,000 to
    (Deductibles of $50K) $4,000 $6,750
    Less than $100M $4,000 to $6,750 to
    (Deductibles of $50K to $100K) $6,750 $9,000
  • Financial Institution Bond Form B (Premium Estimates)*:

    AUM/Deductibles $50K Limit $100K Limit
    Less than $50M $1,000 $2,000
    (Deductibles of $5K) $2,000 $3,000
    Less than $100M $2,000+ $4,000 to
    (Deductibles of $5K to $10K) $4,000 $6,000

    * Please note that every client is different and savings vary dependent on portfolio mix, clients, and best in class procedures, limits and deductibles.

  • PMAC Group Benefit Program for Members’ Employees: Employee Benefits Plan and Member Benefits Plan. For additional information, contact Pam Martin, Baynes & White, telephone (416) 863-9159 extension 226, e-mail:
  • In-house Legal Counsel: PMAC is pleased to have on staff a former OSC lawyer who responds to member questions and assists with advocacy and compliance support.

4. Advocacy:

  • A co-ordinated, industry-wide platform to communicate views on government policy and regulation at the Provincial and Federal levels.
  • Industry, Regulation & Tax Committee: Monitors securities and tax regulation, to respond to relevant issues and to initiate issues for beneficial change by maintaining communication with governments and elected representatives.
  • Effecting change and responding to forefront issues affecting our members and their clients.

Recent comment letters can be found on our website.

5. Networking:

A variety of peer-group meetings on compliance, operations, governance and policy issues are available for the benefit of members.

  • Operational Heads Network, Compliance Officers’ Network and Investment & Corporate Governance Committees.
  • Presidents/CEOs semi-annual dinners.
  • All committee meetings are available by teleconference; compliance professionals meet five times/year in Vancouver, Toronto and Montreal.

6. Image:

Brand enhancement through membership in an association that focuses on “Advancing Standards” and supporting members achieve excellence.

  • The PMAC logo may be referenced in marketing materials, website and other forms of client communications.
  • All members provided with certificate of membership which can be displayed in public place in members’ offices.
  • Assure clients that your firm is committed to advancing standards by being a PMAC member.

Join Now…

Join now and receive all the benefits! Membership runs July – June; applications received before July 1 benefit from immediate membership until June 2014 at 2012/13 fee level.

You will find our fee calculator and membership application here. To join PMAC or find out more about our services, contact Katie Walmsley, President, at 416-504-7018.