The Investment Dealers Association bid “au revoir” to outgoing chairman Jacques Menard yesterday, as it welcomed Bill Packham as its new chairman for the upcoming year.

Packham pledged to build on Menard’s work. He announced that the IDA has struck a new committee – the member relations and representation committee – which will oversee the trade association function much as the member regulation oversight committee oversees the regulatory function.

On the regulatory front, Packham reiterated a theme delivered by Menard earlier in the day, calling for more efficient regulation. “We will continue to work with the securities commissions to identify opportunities for streamlining and harmonization. Unnecessary regulatory costs represent a competitive burden for the industry, a cost to the economy and the investing public.”

Packham says he will be embarking on a national speaking tour to tell the IDA1s story across the country. Also, its public affairs department will be called into service to enhance the IDA1s image and profile. An industry and image program has been approved and funded by the IDA1s board, and will be one of Packham’s major objectives.

As part of the plan to stay in better touch with the member firms, the IDA’s executive committee will be holding its meetings during visits to regional offices. He will also be looking to help cut costs at the IDA and implement regulatory reforms.