CETFA In The News
The Canadian ETF Association Elects a New Board Chair
The Canadian ETF Association (CETFA) has elected a new Chair of their Board; Atul Tiwari, Managing Director of Vanguard Investments Canada has become the Association's second Board Chair since its inception.
"It is an honour to be elected the Chairman of the Canadian ETF Association. The CETFA mandate is to be the source in Canada for ETF education and information," says Mr. Tiwari. "The first ETF was launched in Canada 25 years ago and the industry continues to see tremendous growth..Investors and advisors across Canada continue to embrace ETFs and the benefits of low-cost, high quality investments."
The Association was formed in late 2011 by three of Canada's leading exchange traded fund ("ETF") companies as an independent national association that would represent and promote the Canadian ETF industry. It was the first one of its kind in the world.
The focus of the CETFA has remained to help educate institutional and retail investors as well as the advisor community on the benefits and uses of ETFs, provide industry statistics and commentary on ETF related issues to the Canadian financial media and advance industry issues with regulators, government agencies and interested third parties.
Howard Atkinson was elected as the first chair and has held that position until today.
Under his mandate, the association grew from the three founding ETF provider members to include 5 ETF providers, 19 affiliates and 15 PM members for a total CETFA membership of 39.
During his term, the CETFA worked closely with the Mutual Fund Dealer Association (MFDA) to allow MFDA licensed advisors to sell ETFs.
The CETFA is also close to establishing Dealer Reporting of ETF holdings, which would be monthly reporting to ETF providers of ETF positions held at dealer firms by branch, or potentially even by advisors.
This will enhance the service level offered by ETF providers to investment advisors and their clients.
"I'm very proud of the work that we've accomplished over the last four years, during my time as the Chair of the CETFA," said Mr. Atkinson. "The CETFA has been a tremendous advocate for the ETF industry, from making inroads into the MFDA, which now allows MFDA advisors to sell ETFs, to dramatically increasing both investor and regulator awareness of the benefits of ETF investing. I have no doubt the CETFA will continue this great work under the leadership of Atul Tiwari."