Industry

Decorative pattern

Regulators to consider ABCP settlements

Regulators have announced hearings to consider settlements with firms involved in the sale of non-bank asset backed commercial paper, the market for which collapsed in 2007. The Investment Industry Regulatory Organization of Canada will convene a hearing panel on Monday to consider settlement agreements reached with Canaccord Financial, Credential Securities, and Scotia Capital. According to […]

By Steven Lamb |December 18, 2009

1 min read

Decorative pattern

Briefly:

In the coming year, the Ontario Securities Commission will conduct a review of compliance with the requirements of National Instrument 58-101 Disclosure of Corporate Governance Practices. The review will involve assessing the adequacy of corporate governance disclosure in information circulars (or annual information forms or annual management’s discussion and analysis, if applicable) filed by issuers […]

By Staff |December 18, 2009

2 min read

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Briefly:

The British Columbia Securities Commission has settled with a B.C. man who contravened various securities laws in order to raise US$34 million from investors to purportedly trade spot foreign exchange (Forex) contracts. In the settlement agreement, Cem Ali, 33, a B.C. resident, admitted that he illegally traded and distributed securities, made misrepresentations, and contravened a […]

By Staff |December 17, 2009

4 min read

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BluMont snaps up Northern Rivers

Consolidation continues in Canada’s hedge fund industry, as BluMont Capital has entered into a binding agreement to acquire Northern Rivers Capital Management. Financial details of the purchase were not disclosed but the deal is expected to close in February, 2010. Northern Rivers management team will be integrated into BluMont, which is the retail subsidiary of […]

By Mark Noble |December 17, 2009

3 min read

Decorative pattern

Briefly:

There has been plenty of anecdotal evidence suggesting that insurance is a good hedge against a downturn in the stock market, as clients seek out products with guarantees. Now there is empirical evidence to back that up, as the CLHIA released data on 2008. In one of the toughest years in decades for the financial […]

By Staff |December 16, 2009

3 min read

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Top DAC speaker announced

It was the closest race in Distinguished Advisor Conference history but there could only be one winner. Anthony Morris, the international practice development specialist and sales coach, was selected as the top speaker/presenter at the conference by attendees. Based in Markham, Ontario, Morris’ business platforms have been employed in over 50 countries worldwide. His presentation […]

By John Powell |December 16, 2009

2 min read

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Canadians back away from retirement planning

The past year seems to have done extensive damage to the willingness of Canadians to save for retirement, according the 20th annual RBC RRSP poll. As its name suggests, RBC conducts an annual poll to gauge the retirement goals and savings habits of Canadians. Conducted by Ipsos Reid, this year’s national survey of nearly 1,500 […]

By Mark Noble |December 16, 2009

4 min read

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Briefly:

The federal government has issued a notice aimed at clarifying the application of GST and HST to certain services inherent in investment funds. The taxes are meant to apply to administrative, management and promotional services which are not deemed to be “financial services” under the Excise Tax Act. Under the act, the following are not […]

By Staff |December 15, 2009

3 min read

Decorative pattern

Family offices retool after recession

The family office is turning back to basics, focusing more on risk ad wealth management services in the wake of the Great Recession, according to a study by U.S. Trust/Campden Research. Entitled Building for the Future, the study found advisors to ultra-high-net-worth families are reassessing their service models, with many weighing the viability of their […]

By Steven Lamb |December 15, 2009

2 min read

Decorative pattern

Fund sales stage a recovery

Investors returned to mutual funds in November, reversing the sell-off seen in October, according to the Investment Funds Institute of Canada. Total net sales for the month were $438.8 million, compared to October’s net redemptions of $291.4 million. Total assets under management climbed $13.8 billion to $586.3 billion in November. Rising markets certainly helped matters, […]

By Steven Lamb |December 15, 2009

3 min read

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