Industry

Decorative pattern

Briefly:

The Bank of Canada’s latest survey suggests the economy could see a growth surge of 10% for one or two quarters in 2010. But the loftiest private sector forecast, including Merrill Lynch’s conservative estimate, is well under 4%. The Bank’s Business Outlook Survey did an abrupt about-face in the second quarter, with a read of […]

By Staff |July 15, 2009

1 min read

Decorative pattern

Investors shunned safety in June: IFIC

Heartened by a gradual summer thaw in the markets, Canadian investors emerged from their shells in June and gingerly abandoned the safety of money market funds, according to recent statistics released by the Investment Funds Institute of Canada (IFIC). Money market funds recorded net redemptions totalling $2.8 billion in June, up from $992.9 million in […]

By Kanupriya Vashisht |July 15, 2009

3 min read

Decorative pattern

Briefly:

The Canadian Coalition for Good Governance has named David Denison, president and chief executive officer of the CPP Investment Board (CPPIB), as its new Chair. Denison succeeds Doug Pearce, CEO of BC Investment Management Corporation, whose three-year term as chair expired. “As we look ahead, we will continue to seek progress on our key focus […]

By Staff |July 14, 2009

3 min read

Decorative pattern

Latest scam shows need for disclosure

The financial advice industry has been tarnished once again by someone from outside the business as Montreal’s “mini-Madoff” made headlines across the country. In fairness, to call Earl Jones a financial advisor is akin to calling the accused in a stabbing case a surgeon, since he was not registered with securities regulators, not affiliated with […]

By Steven Lamb |July 14, 2009

2 min read

Decorative pattern

Canadians oblivious to improving markets

Canadian investors remain cynical despite a steady thaw in the economy, mostly because they are still unaware of the green shoots. A Franklin Templeton survey reveals that 50% don’t even know the Toronto Stock Exchange performed well over the past five months — a period that has seen a 31% increase in the S&P/TSX Composite […]

By Kanupriya Vashisht |July 14, 2009

2 min read

Decorative pattern

First guaranteed target date fund matures…early

While the whole guaranteed target date fund industry is still in early adoption stages, the first of the funds have matured nine months early because it’s virtually impossible for the funds’ performance to exceed their current maturity value. For IA Clarington, the target date fund process has been a success. The firm recently announced an […]

By Mark Noble |July 14, 2009

3 min read

Decorative pattern

Briefly:

Douglas G. Hall, chair, Nova Scotia Business Inc. The Honourable David L. Emerson, executive chair, British Columbia Transmission Corporation The Honourable David L. Emerson, executive chair, British Columbia Transmission Corporation Douglas G. Hall, chair, Nova Scotia Business Inc. The Honourable Tom Hockin, chair, Expert Panel on Securities Regulation Harold MacKay, former managing partner and chairman, […]

By Staff |July 13, 2009

3 min read

Decorative pattern

When not to IPP

While individual pension plans can be a sound solution for some entrepreneurs and executives, when it comes to retirement planning, one size never fits all. Mike Lynch, corporate specialist with Lynchpin Wealth and Transition Management, says IPPs tend to be somewhat oversold, but notes they aren’t optimal for a majority of Canadian small businesses that […]

By Kanupriya Vashisht |July 13, 2009

4 min read

Decorative pattern

Montreal

Details are sketchy, but according to Quebec’s security regulator, an unlicensed “advisor” based in Montreal may have committed one of the worst financial frauds in Canadian history. Bertram Earl Jones, the principal owner of a west-Island based advisory practice called Earl Jones Consultant and Administration Corp. — not to be confused with the large advisory […]

By Mark Noble and Claude Couillard |July 13, 2009

3 min read

Decorative pattern

Manulife faces class action in New York

A class action suit has been filed in the U.S. against Manulife, alleging the Canadian insurance giant made false and misleading statements regarding its risk management regime. The suit follows the announcement on June 19 that the Ontario Securities Commission had commenced an enforcement probe into whether the company had adequately met its continuous disclosure […]

By Steven Lamb |July 10, 2009

1 min read

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