The Canadian Advocacy Council (CAC) is an independent organization comprising of 10 - 16 members from across Canada who engage in a variety of activities in Canada’s capital markets. The CAC represents over 17,000 CFA Institute members who are the primary market participants in Canada’s capital markets. Funding for the CAC is provided by the 12 member societies of CFA Canada and CFA Institute.
The CAC reports to the CAC Oversight Committee consisting of the Presidents (or their designates) of the four largest CFA societies in Canada and the Presidents (or their designates) of two additional societies. The two additional members of the CAC Oversight Committee are selected based on a scheduled rotation unless otherwise agreed upon by the Canadian President’s Council. The CAC uses a Litmus T est in order to efficiently allocate its resources to those initiatives that will produce the greatest benefits to Canada's CFA Institute member societies, CFA Institute members, the capital markets, and the investment community in general.
The CAC works closely with the CFA Institute’s Centre for Market Integrity (the ‘Centre”) by providing input and participants into the Centre’s two main advocacy committees (Capital Market Policy and Corporate Disclosure Policy). In addition, the CAC and the Centre co-ordinate general and specific Canadian advocacy efforts when appropriate.
The Canadian Advocacy Council for Canadian CFA Institute Societies (“CAC”) is the Pan Canadian body representing the interests of Canadian CFA Institute societies with regards to advocating CFA Institute’s Code of Ethics and Standards of Practice to Canada’s securities regulators, standard setters, self-regulatory organizations, industry groups and legislators.
The CAC advocates the interests of its members through the publication of comment letters on proposed rules and notices from standard setters, legislators and securities regulators. In addition, the CAC published “White Papers” on issues which it deems are of national importance and participates in a number of User Advisory groups. Comments and issues engaged by the CAC are screened through a vigorous litmus test and debate from its members.