FAIR Canada applauds Saskatchewan’s OBSI bill
"Landmark" legislation is significant step forward in protecting investors, organization says
By James Langton |May 28, 2024
2 min read
News and resources for Canada's top financial advisors
Previous Brieflies this week: | MON | TUE | WED | THU |
(August 28, 2008) The Expert Panel on Securities Regulation has appointed a legal advisory committee to back up its goal of harmonizing Canada’s fragmented regulatory framework.
“The six-person committee, which is drawn from across the country and represents a number of areas of legal expertise, has been created to provide legal advice in connection with the preparation of a model common securities ac,” said Tom Hockin, P.C., chair of the Expert Panel.
The legal committee consists of:
- Philip Anisman, Barrister and Solicitor, Toronto
- Richard J. Balfour, Partner, Torys LLP Toronto.
- Patrick Finnerty, Partner, Blakes Cassels and Graydon LLP, Calgary
- Mitchell Gropper, Partner, Farris, Vaughn, Wills and Murphy LLP, Vancouver
- Francis Legault, Partner, Ogilvy Renault LLP, Montreal
- Glorianne Stromberg, securities lawyer, Toronto
The Expert Panel is slated to provided a final report to ministers responsible for securities regulation by the end of 2008.
• • •
TD tops in service
(August 28, 2008) TD Canada Trust has been given top marks among Canada’s five biggest banks in customer satisfaction by J.D. Power and Associates, marking the third consecutive year that the bank has taken top honours.
TD took top marks in all categories, which include customer satisfaction regarding transactions, account statements, account initiation/product offerings, facility, fees and problem resolution.
“Customer service is embedded in our business strategies and our day-to-day operations and it’s tied to everything, including every single employee’s compensation,” said Tim Hockey, group head Canadian banking, president and CEO, TD Canada Trust. “It’s how our customer-focused culture works.”
The study was conducted in March-April and June-July of 2008.
• • •
New privacy guide available
(August 28, 2008) The Office of the Privacy Commissioner of Canada has rolled out a new compliance guide for companies wishing to evaluate whether their privacy practices live up to requirements laid out in the Personal Information Protection and Electronic Documents Act (PIPEDA).
The diagnostic tool consists of a series of checklists that assess how well an organization lives up to the 10 Fair Information Principles of PIPEDA.
“Good privacy practices are good for business,” says Privacy Commissioner of Canada, Jennifer Stoddart. “More and more, organizations are realizing this, and by giving them an efficient and effective means of evaluating and improving their privacy practices, they can develop a competitive advantage.”
The new PIPEDA Self-Assessment Tool, as well as other tools to help organizations comply with privacy law, such as a guide for businesses and organizations, an e-learning tool for retailers, fact sheets and a number of new case summaries, can be found at the Office of the Privacy Commissioner website.
• • •
Fee management costs to soar
(August 28, 2008) The growth of managed accounts south of the border has outstripped the ability of firms to manage the fees they collect on them, according to a study by TowerGroup.
Using current systems, the industry is spending more than $20 million US per year to process their fees, and the TowerGroup report predicts this additional layer of cost will rise to $42.4 million per year by 2012.
The study recommends that new technology be implemented that would focus on the needs of managed account sponsors and advisors, rather than focusing on the needs of the manager. Such a system would mitigate the complexity of fees and enable the advisor to manage clients more effectively.
(08/28/08)
Previous Brieflies this week: | MON | TUE | WED | THU |
(August 28, 2008) The Expert Panel on Securities Regulation has appointed a legal advisory committee to back up its goal of harmonizing Canada’s fragmented regulatory framework.
“The six-person committee, which is drawn from across the country and represents a number of areas of legal expertise, has been created to provide legal advice in connection with the preparation of a model common securities ac,” said Tom Hockin, P.C., chair of the Expert Panel.
The legal committee consists of:
- Philip Anisman, Barrister and Solicitor, Toronto
- Richard J. Balfour, Partner, Torys LLP Toronto.
- Patrick Finnerty, Partner, Blakes Cassels and Graydon LLP, Calgary
- Mitchell Gropper, Partner, Farris, Vaughn, Wills and Murphy LLP, Vancouver
- Francis Legault, Partner, Ogilvy Renault LLP, Montreal
- Glorianne Stromberg, securities lawyer, Toronto
The Expert Panel is slated to provided a final report to ministers responsible for securities regulation by the end of 2008.
• • •
TD tops in service
(August 28, 2008) TD Canada Trust has been given top marks among Canada’s five biggest banks in customer satisfaction by J.D. Power and Associates, marking the third consecutive year that the bank has taken top honours.
TD took top marks in all categories, which include customer satisfaction regarding transactions, account statements, account initiation/product offerings, facility, fees and problem resolution.
“Customer service is embedded in our business strategies and our day-to-day operations and it’s tied to everything, including every single employee’s compensation,” said Tim Hockey, group head Canadian banking, president and CEO, TD Canada Trust. “It’s how our customer-focused culture works.”
The study was conducted in March-April and June-July of 2008.
• • •
New privacy guide available
(August 28, 2008) The Office of the Privacy Commissioner of Canada has rolled out a new compliance guide for companies wishing to evaluate whether their privacy practices live up to requirements laid out in the Personal Information Protection and Electronic Documents Act (PIPEDA).
The diagnostic tool consists of a series of checklists that assess how well an organization lives up to the 10 Fair Information Principles of PIPEDA.
“Good privacy practices are good for business,” says Privacy Commissioner of Canada, Jennifer Stoddart. “More and more, organizations are realizing this, and by giving them an efficient and effective means of evaluating and improving their privacy practices, they can develop a competitive advantage.”
The new PIPEDA Self-Assessment Tool, as well as other tools to help organizations comply with privacy law, such as a guide for businesses and organizations, an e-learning tool for retailers, fact sheets and a number of new case summaries, can be found at the Office of the Privacy Commissioner website.
• • •
Fee management costs to soar
(August 28, 2008) The growth of managed accounts south of the border has outstripped the ability of firms to manage the fees they collect on them, according to a study by TowerGroup.
Using current systems, the industry is spending more than $20 million US per year to process their fees, and the TowerGroup report predicts this additional layer of cost will rise to $42.4 million per year by 2012.
The study recommends that new technology be implemented that would focus on the needs of managed account sponsors and advisors, rather than focusing on the needs of the manager. Such a system would mitigate the complexity of fees and enable the advisor to manage clients more effectively.
(08/28/08)
