Briefly:

(February 27, 2008) The Ontario Securities Commission has identified some deficient disclosure practices with environmental reporting, as detailed in a report it released Wednesday.

“Over the past several years, we have increasingly focused on the adequacy of disclosure of environmental matters in continuous disclosure documents,” noted corporate finance director Margo Paul. “It is important that the information is meaningful so that investors can make informed investment decisions.”

The report stems from a review of 35 Ontario-based reporting issuers.

“Some issuers may have potential liabilities that are not reflected in the financial statements because their long-term or contingent nature can make them particularly difficult to quantify,” the OSC commented in the report. “Some issuers may have several contingent environmental liabilities that have not been recognized because they are not individually material, but it is possible that together they may indicate an underlying risk or trend that could be material to the issuer in the long term.”

The full report is available at www.osc.gov.on.ca under the rules, policies and notices section of the website.

Employees leaving free money on the table: Sun Life

(February 27, 2008) Even though 40% of employed Canadians have access to employer-matched savings plans, 20% of them do not take advantage of them, according to a recent survey from Sun Life Financial.

Reasons for not participating include lack of desire (21%), no money to contribute (14%) and preferring to invest on their own (6%).

“What this shows is that the industry as a whole needs to do a better job of educating working Canadians about the huge benefits of participating in retirement programs offered to them by their employer,” said Dean Connor, president of Sun Life Financial Canada. “It’s free money, and Canadians should be taking advantage of this benefit.”

Women were more likely than men to participate (73% versus 65%), while regionally, Atlantic Canadians, at 78%, were the most inclined to join an employer-matched plan. Quebecers were least likely to do so, with only 59% participating.

(02/27/08)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.