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The FPSC made a subtle change to its name and brand. Originally known as the Financial Planners Standards Council, the name is now Financial Planning Standards Council.

“We saw an opportunity to more fully align our brand identity with our central purpose which has become more refined these past years,” says Tamara Smith, vice-president of marketing and brand management at FPSC. “While our mission is still about professional standards in financial planning our work is broader in scope, with our central purpose ultimately about ensuring the financial planning needs of Canadians are well served.”

The FPSC says the new name reflects “clarity of purpose and differentiates FPSC from [other] financial services providers.”

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Commodities rallied in October

Canadian commodities came roaring back in October, with the Scotia Commodity Price Index gaining 6.8%. The rise in prices comes on the heels of a weak September, and is largely fueled by a softening U.S. dollar, according to the bank.

The strongest gains were in the oil and gas sub-index, which rose 20% month-over-month. But these gains may be short-lived, as U.S. demand for fossil fuels has weakened throughout November.

“This likely reflects mild U.S. weather at the beginning of the heating season in November — checking any gains in distillate demand — as well as U.S. economic indicators, which remain mixed,” says Patricia Mohr, vice-president, economics and commodity market specialist at Scotiabank.

Investors have moved into traditional store-of-value assets such as gold and silver, but also into more utilitarian metals, such as copper. The overall metals and minerals sub-index rose 3% month-over-month.

“While news of financial restructuring at Dubai World has temporarily bolstered the U.S. dollar in late November, the dollar is likely to resume its decline and move irregularly lower in 2010, sending gold higher,” Mohr says.

Even the forest products index joined the rally, rising 3.1%. Agricultural commodities posted the weakest gains, rising 0.8%.

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Oil sands disclosure lacking: Northwest & Ethical

This may not come as too much of a shock, but the companies operating in Canada’s oil sands are doing a poor job of disclosing their exposure to environmental risks, according to a report by the sustainable investing team at Northwest & Ethical Investments.

The report, entitled Lines in the Sands, studied the environmental, social and governance (ESG) policies of 13 publicly traded Canadian, American, and international companies with commercial oil sands operations in Northern Alberta.

Among the topics of interest are general disclosure, aboriginal engagement, climate change and air pollution, water, land use and biodiversity; and corporate strategy for change. While some of the companies offered transparent reports, others tended to bury information on these topics, or not release it at all.

“We know that oil-sands production creates a range of social and environmental impacts that companies need to address,” says Bob Walker, vice-president of sustainability with Northwest & Ethical Investments.

“Institutional investors can make a difference by engaging the companies they own on improving policy and practice — but to do so effectively, they need to understand how different companies are exposed in different ways to oil sands risk.”

He suggests investors encourage disclosure leaders, in an effort to push less transparent firms to follow suit.

The oil sands have been labeled as the most destructive project on the face of the earth, and drawn fire from climate change activists — most notably, former U.S. vice president Al Gore.

The full report is available here.

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AGF hires Peter J. Frost

AGF Investments has announced Peter J. Frost has joined the firm as vice-president and portfolio manager. He will take over as lead manager of the AGF Canadian Balanced Value Fund, pending regulatory approval.

“We are pleased to welcome Peter to our award-winning and diverse investment management team,” said Martin Hubbes, chief investment officer at AGF. “The addition of Peter to the Canadian equity team brings a complementary value style to the AGF Investments group and the domestic line-up of funds, strengthening our overall investment management capabilities.”

Frost is a 17-year industry veteran, with a traditional value-based investment philosophy. Over his career, he has focused on Canadian equities.

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Montreal business advisory merges with Mazars

Montreal-based tax and insurance advisory firm Harel Drouin has announced it is merging with international business advisory firm, Mazars Group. The deal will create a new entity: Mazars Harel Drouin.

“The technical abilities of our team, combined with those of Mazars provide real added value to the players in the Canadian financial markets,” said Michel Brousseau, Managing Director of Mazars in Canada. “It also allows us to offer tailored services that meet the specific needs of each organization.”

The merger brings together more than 100 professionals in the Montreal office and makes Mazars Harel Drouin among the largest audit firms in Canada. This will allow the organization to optimize services in assurance, taxation and advisory services to business.

“Together, we will continue to serve our national and international clients with the highest levels of professionalism, in keeping with the founding values of Mazars,” said Lucette Poliquin, Mazars partner in Canada. “Our partners from Harel Drouin are professionals who are well recognized in the Canadian economic and finance worlds.”

(11/30/09)