CURRICULUM VITAE
Dennis Horgan
Financial Services Consulting
501 Windermere Ave
Toronto ON M6S 3L5
416-767-9756
E-mail: horgandennis@gmail.com
CONSULTING EXPERIENCE
Dennis has been self-employed as an independent consultant since June 2001.
Accepted as an expert on investment suitability by the courts in Nova Scotia.
Has written expert reports on suitability and industry standards, which have been
accepted by the courts in Ontario.
Has provided analysis of mutual fund dealer operations and recommendations to gain
operational efficiencies through automation and adoption of available industry electronic
standards.
Member of the Association of Canadian Compliance Professionals (ACCP) since 2005.
Clients have included:
ƒ
ƒ
ƒ
ƒ
ƒ
ƒ
ƒ
ƒ
MFDA dealers
IIROC investment dealers
Third party service providers
Mutual fund industry network
Mutual fund companies
Law firms representing both dealers and investors
Financial services Industry groups
Software developers
A variety of assignments have included:
•
Expert opinion in litigation matters for law firms on behalf of mutual fund brokers,
dealers, and investors
•
Investment suitability/risk reviews
•
Investment gain/loss calculations
-1-
•
New dealership start-up
•
Compliance and operational reviews with recommendations for ensuring
compliance with OSC and MFDA regulations and increasing
operational/administrative efficiencies
•
FundSERV ESG (Electronic Standards Group) analysis/implementation
•
MFDA dealer operations manual
•
Mentoring and training staff
•
Project management for fund company system conversion
•
Assisting with a credit/compliance crisis for a large investment dealer
•
Office Management for service provider
BUSINESS EXPERIENCE
Global Strategy Financial
1998 through 2001
Member of system conversion team for Global Strategy to AGF in 2001
Senior business analyst, responsible for ensuring compliance with industry standards
and assisting customer service teams automate their customers’ mutual fund business.
1992 through 1998
Senior Manager charged with developing automation of Global Strategy’s mutual fund
business with its outside customers and counterparts
Director of the Independence Network, designed to provide mutual fund dealer
customers with automation tools.
Created and developed “intermediary” standards for third party participants such as
MRS, B2B Trust.
-2-
CIBC Woody Gundy
1989 to 1991
Vice-President, mutual fund operations
Represented Wood Gundy at the IDA FAS Mutual Fund Sub-Committee from 1987
through 1991, addressing such issues as net settlements, deferred sales charge
practices, and introduction of National Policy 39.
Administrative Leader of project team for startup of Wood Gundy's Hyperion Mutual
Funds featuring customized portfolio statements. Hyperion was later merged with the
Talvest Mutual Funds.
1987 to 1989
Assistant Vice-President, special assistant, National Credit department. Responsible for
various projects as well as supervisory duties in credit department.
1982 to 1986
Various roles in Head Office Operations, including Special Assistant to Operations
Manager. Responsibilities included integrating mutual fund processing into large
brokerage firm’s systems.
Wood Gundy representative on project team with Canada Systems Group to develop &
implement Canada's first Mutual Fund Branch Order Entry system. Delivered orders to
the market electronically on a same day basis while allowing each branch to
significantly reduce errors and related adjustment costs.
Brokerage & Trust Company Experience 1967-1981
Well rounded background in administrative operations covering all aspects of equity,
bond, and money market operations, including Reorganization, Clearing, CDS,
Reconciliations, and Credit, with increasing emphasis on management/supervisory
responsibilities.
Bell Gouinlock Inc.
Richardson Securities of Canada
Sterling Trusts Corporation
Industry Leadership
-3-
1998 – 2011 Member of FundSERV Standards Steering Committee, responsible for
determining the direction of industry standards and FundSERV network development.
Chair, IFIC Administrative Steering Committee 1997/98, and served on the IFIC
Operations and Procedures Committee from 1996 through 2001.
Chair, Labour Sponsored Investment Fund Working Group. 2000-2001
Member of both the Mutual Fund and the Dealer Standards Steering Committees from
1992 through1995. Responsible for creating the original electronic industry standard file
layouts and standards, which serve as the backbone of today's FundSERV ESG
standards.
Chaired the IFIC sub-committee on Registered Account Transfers, which in 1997
drafted the financial services industry standard Account Transfer Form & Guidelines to
replace Revenue Canada's T2033 form and in 1999 drafted the standard Locked-In
Transfer Confirmation Agreement Form and processing guidelines.
Member of industry working groups responsible for recommending changes to National
Policy 39 in 1989 as well as recommending changes for the transition to National
Instrument 81-102 in 1999.
Started the Mutual Fund Brokerage Committee and was co-chair from 1985 through
1987. This committee went on to become the IIROC FAS Mutual Fund Sub-committee,
still in operation.
Participated on most of the major mutual fund industry committees/initiatives from 1989
through 2001, including some aspects of the creation of the MFDA rules through IFIC
working groups.
EDUCATION
•
•
•
•
Ontario Grade 13
Canadian Securities Course
Officers, Partners & Directors Examination
Extensive training in Management Development,
Management and numerous other areas.
Teambuilding,
Time
COURT APPEARANCES
Dennis has testified at trial on behalf of the party shown in bold in the following matters:
Supreme Court of Nova Scotia
Critchley v Critchley
-4-
-5-