News and resources for Canada's top financial advisors
Industry
For too long the world had seen South Africa as a morbid montage of crime, poverty and sky-high HIV-AIDS infection rates. A third world country considered short on skills and long on laxity, avoided like a cold sore by global investors. But that is all in the rear-view mirror. With its accession to the unofficial […]
By Vikram Barhat |June 21, 2011
5 min read
The balance between return and risk is often equated with the trade-off between health and exercise. While all investors have an appetite for greater wealth (being healthy), they also have a limited tolerance for risk (exercise). Unfortunately, risk is a difficult, often abstract, concept for investors — especially when it comes to investment selection. As a result, risk is usually ignored altogether.
By Mary Anne Wiley |June 20, 2011
7 min read
Two investors have filed a motion for authorization to bring a class action suit against Desjardins Financial Security. Prior to the financial crisis of 2008, Jean-Paul Dupuis and Francis Tremblay bought Strategic Index Plus (SIP) and Tactical Index Plus (TIP) term investments from DFS. These capital-guaranteed products have a maturity of five to eight years. […]
By Fabrice Tremblay |June 17, 2011
2 min read
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Roger Carl Schoer fraudulently induced clients and other individuals to invest money which he used for other purposes. In its decision, the panel imposed a penalty on Schoer which includes: • A $200,000 fine; • A permanent bar from registration […]
June 17, 2011
1 min read
The discipline committee of Quebec’s Chambre de sécurité financière has issued a permanent ban against an advisor who stole $48,000 from the account of his mother. Jean Alix Balan Junior, who practiced as a mutual fund rep in the greater Montreal area, took out a $50,000 line of credit in his mother’s name without her […]
By Staff |June 17, 2011
Estate Planning
Poor choices made by financial planners in connecting their clients to wills and estate lawyers can, and often do, result in lengthy and expensive estate litigation. Solicitor negligence is not something that people like to talk about, but it can be a problem, said Markham-based Andrea Kelly, barrister and solicitor, speaking at the CIFPs’ 9th […]
By Vikram Barhat |June 17, 2011
4 min read
Horizons Exchange Traded Funds has filed a final prospectus for the Horizons Enhanced U.S. Equity Income Fund, a closed end fund which will be managed by AlphaPro Management Inc. The fund aims to provide investors with capital appreciation and monthly distributions, based on the performance of an equal weighted portfolio of the 50 largest and […]
TMX Group Inc. today announced that Glass, Lewis & Co., LLC, a leading independent governance analysis and proxy voting firm, has published a report recommending that TMX Group shareholders vote in favour of TMX Group’s proposed merger with London Stock Exchange Group plc (LSEG). The Glass Lewis report stated: “In light of our approval of […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has fined Mark Allen Dennis more than $1 million after finding that he misappropriated a client’s money and failed to co-operate with IIROC’s investigation. In issuing its decision, the panel imposed a penalty of: • $1 million fine for the misappropriation; • $25,000 […]
By Staff |June 16, 2011
Economic Indicators
Chinese economic growth may moderate further in the coming months due to weak exports. The Conference Board, the leading economic index for China, said that its leading indicator for Chinese economy rose 20 basis points month-on-month to 154.5 in April, slower than a 90 basis points increase in March. Conference Board economist Bill Adams said […]
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