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Industry
The Investment Industry Regulatory Organization of Canada (IIROC) has set Tuesday, December 9, 2008, as the hearing date for William John Marston, one of the central figures in failed Mount Real group of companies. Mount Real came under investigation in June 2005 for its links to the failed hedge fund promoter Norshield Financial Group. Mount […]
By Staff |November 26, 2008
3 min read
The proposed plan to restructure third-party asset-backed commercial paper was delayed again this week. The holdup is mostly due to the complexity of the restructuring, the large number of participants involved in the process and current market conditions. “We acknowledge that it’s taking longer than we would wish and we apologize to all stakeholders for […]
November 26, 2008
4 min read
The deal to take BCE private by a group led by the Ontario Teachers’ Pension Plan is in doubt after an advisory firm said the leveraged buyout would put the telecom company’s solvency at risk. Should KPMG be unable to deliver a favourable opinion before the planned closing date of December 11, 2008, the transaction […]
Manulife Securities Investment Services has reached a settlement in its class action suit against Société Générale (Canada), over the bank’s role in the collapse of Portus Alternative Asset Management Inc. While SocGen continues to deny all of the allegations in the suit, it has agreed to repurchase the deposit notes underlying the Portus investments currently […]
By Steven Lamb |November 26, 2008
1 min read
(November 24, 2008) Clients who are expecting a decent raise in the new year may be disappointed, as employers scale back on their planned salary increases for 2009, according to a survey by Mercer. About half of the 175 companies that were polled said they were cutting back. In the second quarter, the national average […]
By Staff |November 25, 2008
(November 25, 2008) Canada has not yet felt the full force of the world financial crisis, but it will soon, according to reports from the Organization for Economic Co-operation and Development, which has earmarked Canada to have a full-blown recession in 2009. The OECD has predicted Canada’s gross domestic product will decline by 1.6% in […]
The dramatic decline of the markets has sparked a cascading wave of what are called “protection events” on products that offer principal or maturity guarantees. One of the asset categories most dramatically affected by this is the relatively new and popular group of target-date or lifecycle funds. A popular type of lifecycle fund is one […]
By Mark Noble |November 24, 2008
6 min read
Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister publication, 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. Give your clients a call. The economic and market […]
By Kate McCaffery |November 21, 2008
(November 21, 2008) Finance Minister Jim Flaherty has asked all federally regulated financial institutions to help spread the word that seniors are not required to sell assets held within their registered retirement income funds. “Many seniors are understandably concerned about the impact of the recent deterioration in market conditions on their financial security and I […]
By Staff |November 21, 2008
For some financial planners, their client’s gender doesn’t have an impact on how they work. But one advisor argues that sex does matter. Erika Penner, a Richmond B.C.-based CFP, says men and women don’t have the same ideas when it comes to financial planning. “People often think that men and women are the same in […]
By Bryan Borzykowski |November 21, 2008
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