Industry

Decorative pattern

Briefly: “Public sees banks as solid” and more of Tuesday’s news

Repeated press reports on the stability of the Canadian banking system appear to have convinced the public that the system is rock solid, according to a report by PricewaterhouseCoopers. The firm’s Annual Banking Survey found 85% had confidence in the system, and 84% said it was one of the best in the world. “Canadians are […]

By Staff |February 17, 2009

2 min read

Decorative pattern

Mutual funds face paradox of thrift

As consumers tighten their belt in the face of recession, savings rates could jump from their current 3% to the double digits that prevailed in the 1980s. That would be good news for banks, money market funds and government bond issuers, says Toronto consultancy Investor Economics in its year-end wrap-up of the mutual fund industry. […]

By Scot Blythe |February 13, 2009

3 min read

Decorative pattern

Briefly: “Thow gets penalty reduced” and more of Friday’s news

Ian Thow, the ex-Berkshire rep accused of stealing $6 million from 26 clients, has won an appeal to have a BCSC administrative penalty dramatically reduced, from $6 million, to $250,000. The Court of Appeal for British Columbia has ruled that the securities commission overstepped its regulatory bounds by imposing such a large penalty, which far […]

By Staff |February 13, 2009

3 min read

Decorative pattern

Week in review: February 9-13, 2009

Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister website, Conseiller.ca. Read this section every week to catch up on the news you missed, or click here and subscribe to get regular updates sent to your inbox or BlackBerry. Skip to: Investing, industry news, products, RRSP reminders and […]

By Staff |February 13, 2009

9 min read

Decorative pattern

“Can’t regulate good judgment” for hedge funds

The hedge fund industry grew too large, too fast, and too stupid — that seems to be the consensus of three hedge fund managers who thrived in 2008 and who expect the collapse of the world’s current financial system to get rid of the losers. Hedge fund managers with double-digit returns during the worst stock […]

By Mark Noble |February 12, 2009

5 min read

Decorative pattern

Equity markets pummel insurers’ earnings

The rapid sell-off on equity markets in Q3 and Q4 of 2008 took a heavy toll on Canada’s top insurance carriers, but Sun Life, Manulife and Great-West Lifeco still managed to eke out full-year profits, though substantially reduced. Sun Life Financial recorded a Q4 profit of $129 million, down from $555 million a year ago. […]

By Steven Lamb |February 12, 2009

2 min read

Decorative pattern

Briefly: “More Portus money to flow” and more of Thursday’s news

There was a time, long before Bernard Madoff took over the headlines, when the collapse of Portus Alternative Asset Management was considered a major case. Today there is some good news for investors in the failed hedge fund company. KPMG, the bankruptcy trustee for the Portus estate, has begun mailing out cheques to about 19,000 […]

By Staff |February 12, 2009

3 min read

Decorative pattern

Regulators, not Greenspan, to blame

With a credit market reckoning more severe than even the most experienced asset managers expected, at least one is saying that former U.S. Federal Reserve Board chair Alan Greenspan is not to blame — but the U.S. Congress and the federal regulators are. And the reason they’re to blame, says Barry Allen, president of Marrett […]

By Scot Blythe |February 11, 2009

3 min read

Decorative pattern

Clarity is key to investment policy statements

To most clients, investment policy statements (IPS) might mean just another set of legalese they need to put their signature on, but to portfolio managers these are critical documents that could make or mar their careers if a disgruntled client took them to court. “People only look at contracts at two times: once at the […]

By Kanupriya Vashisht |February 11, 2009

4 min read

Decorative pattern

Briefly: “IA’s Charest honoured in Quebec” and more of Wednesday’s news

The president and CEO of Industrial Alliance, Yvon Charest, has been named the 2008 Quebec Financial Person of the Year by the Finance et Investissement newspaper. It is the second time he has received this honour, with the first time coming in 2004. Charest guided the company through several acquisitions last year, shoring up its […]

By Staff |February 11, 2009

5 min read

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