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Industry
The Investment Industry Association of Canada (IIAC) is pleased with finance minister Jim Flaherty’s decision to launch a Canadian Securities Transition Office, which will work closely with the provinces and territories to develop a federal Securities Act and design a transition plan for a single securities regulator. IIAC also endorsed the appointment of Doug Hyndman […]
By Staff |June 23, 2009
3 min read
Manulife Financial announced late on Friday that it had received a notice of enforcement from the Ontario Securities Commission regarding the firm’s level of disclosure on the risks posed by its variable annuity guarantee and segregated funds business. The stock market’s precipitous decline last fall left the company with underfunded liabilities in these guaranteed products, […]
By Steven Lamb |June 22, 2009
Northwest & Ethical Investments today announced a change to the portfolio management of its Ethical Canadian Dividend Fund. Current co-manager QV Investors Inc. — which has managed the fund in conjunction with Highstreet Asset Management Inc. for the past two years — has been awarded full portfolio mandate, effective immediately. Northwest & Ethical also terminated […]
By Staff |June 22, 2009
4 min read
The transition to a national securities regulator is underway. Jim Flaherty, Minister of Finance, announced the launch of a transition office, which will lead Canada’s effort to establish the Canadian securities regulator. The Transition Office will lead all aspects of the transition to a national regulator, including the development of a federal Securities Act, collaborating […]
By Mark Noble |June 22, 2009
2 min read
In a speech to the Regina and District Chamber of Commerce, Bank of Canada Governor Mark Carney explained that much hard work remains to be done before a recovery will take hold. Amid all the talk of “green shoots” in the global economy, he likens the process of recovery to the methodical and innovative process […]
By Staff |June 19, 2009
The Canadian Securities Administrators’ point-of-sale (POS) disclosure scheme has taken another step forward, with the publication for comment of proposed amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure. “The current market conditions highlight the need for investors to fully understand what they are buying,” says Jean St-Gelais, CSA chair, and president and CEO of […]
By Steven Lamb |June 19, 2009
With the break in Parliament for the summer, you have at least three months of using email as a means to contact new clients. It is expected that in the fall, legislation will be introduced before the House of Commons that will effectively ban email communication to clients and prospects without obtaining some form of […]
By Mark Noble |June 19, 2009
Mackenzie Financial Services Inc. has announced the addition of two new fixed income offerings to its mutual funds lineup. The Mackenzie Sentinel Short-term Government Bond Fund aims to provide a higher return than money market funds. Chris Kresic, senior vice-president, investments, with Mackenzie, has been tapped as lead manager, and the fund will be available […]
By Staff |June 18, 2009
The crippling downturn has done nothing to dampen the Canadian dream of owning a cottage, cabin or chalet that can serve as a year-round recreational property and, for some, as their primary residence, according to a Royal LePage Recreational Property Report released today. The poll shows recreational properties are still considered a safe long-term investment, […]
By Kanupriya Vashisht |June 18, 2009
The value of a practice is only partly based on forward earnings. Advisors looking to either buy or sell a practice must be aware of myriad other factors that could turn a book of business into a book of problems. Presenting at LOMA Canada’s recent conference in Canada, Arnold Scheerder, compliance officer for R.G. Packman […]
By Mark Noble |June 18, 2009
5 min read
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