​Balmoral Advisory is a boutique advisory firm that helps firms manage change and bridge the knowledge gap between compliance, technology and business

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Donna Bales Founder   

​Donna is a business and product development professional with over 20 years of international experience within Capital Markets leading business initiatives and advising clients in market structure, regulatory, compliance and risk projects, with a focus on strategy, operational impact and business transformation.
 
Donna has extensive experience managing early concept bank consortium change initiatives within the market data and exchange space. While at IHS Markit she led the project teams for Markit BOAT, the OTC equity trade repository built in response to the regulatory changes introduced by MiFID and Markit MSA, an independent market share analysis tool for the EMEA cash equity and ETF markets.
 
Prior to Markit, Donna spent 10 years at TD Securities where, between 2001-06, she was responsible for the business and distribution strategy for TD Securities Global Fixed Income E-commerce Solutions.
 
Currently, Donna advises clients on regulatory, risk and compliance issues and assists her clients to bridge the knowledge gap between compliance, technology, business and other supporting functional areas. She has assisted several regulators to advance policy reforms; most recently the Investment Industry Regulatory Organization of Canada (IIROC) with the development of Rule 2800, Debt Transaction Reporting Rule and the Co-operative Capital Markets Regulatory System with research and policy direction on systemic risk issues.
 
Donna co-founded the Canadian RegTech Association in 2018, a not-for-profit focused on solving regulatory challenges through collaborative discussion and engagement.
 
Donna has an economics degree from the University of Western Ontario and has an Executive Certificate in Directorship from Singapore Management University.