Industry

Decorative pattern

Judge approves deal, satisfied with fraud amendment

Justice Campbell had been reluctant to approve the deal until third-party ABCP sponsors and other dealers subject to the deal were willing to relinquish some of the protections that would have made them not only immune to legal action but cases of fraud as well. Justice Campbell believed the fraud protection was too all-encompassing and […]

By Mark Noble |June 6, 2008

2 min read

Decorative pattern

Canadian reforms pale next to U.S.

Those struggling to keep on top of Canada’s various regulatory reform initiatives can take heart: at least they are not facing the American experience. While Canadian regulators work out the details of registration reform and advisor disclosure, the U.S. is taking things several steps further. The Securities and Exchange Commission has proposed a “plain English” […]

By Steven Lamb |June 6, 2008

4 min read

Decorative pattern

Briefly:

(June 5, 2008) CFA Institute will have administered more than one million CFA exams since its inception in 1963, as nearly 119,000 current and aspiring investment professionals from 165 countries prepare to take the exams this weekend. The United States by far is fielding the most new candidates this year, 23,685, a 27% increase over […]

By Staff |June 5, 2008

4 min read

Decorative pattern

Oil run based on fundamentals, not speculation: Rubin

According to the latest forecast report from CIBC World Markets, the near doubling of oil prices over the past year has been driven by supply-and-demand fundamentals and not by speculation or the weakness of the U.S. dollar, as others have suggested. CIBC World Markets is calling for the price of West Texas Intermediate (WTI) to […]

By Mark Noble |June 5, 2008

3 min read

Decorative pattern

The best defence: A good paper trail

The first step toward protection starts when you meet your client for the first time. When you go over the know-your-client form, it’s imperative that you explain things like risk and aggressive moderation — terms the advisor might think are obvious — to the client. “These are basic concepts, so you might be inclined to […]

By Bryan Borzykowski |June 5, 2008

5 min read

Decorative pattern

Fund sales rebound slightly in May

The mutual fund industry managed to post modest net sales in the month of May, according to the Investment Funds Institute of Canada, with net new money estimated at between $2.2 billion and $2.71 billion. Fortunately, strong market performance helped boost industry assets under management. Net assets of the mutual fund industry at the end […]

By Steven Lamb |June 4, 2008

2 min read

Decorative pattern

Briefly:

Mary Forrest, head of North America (Life), Munich Reinsurance Company Dominic D’Alessandro, president and CEO, Manulife Financial Alain Brunet, president and CEO, National Bank Life Insurance Company Ronald Beettam, president and CEO, The Equitable Life Insurance Company of Canada (June 4, 2008) The Canadian Life and Health Insurance Association (CLHIA) has elected a new board […]

By Staff |June 4, 2008

3 min read

Decorative pattern

Alberta sole holdout on incorporation

New Brunswick is the latest province to allow Mutual Fund Dealer Association members to incorporate, leaving Alberta as the only jurisdiction that forces advisors to act as individuals. The move toward incorporation meant the New Brunswick Securities Commission (NBSC) had to suspend MFDA rule 2.4, which states that advisors have to be paid as individuals. […]

By Bryan Borzykowski |June 4, 2008

3 min read

Decorative pattern

Ontario gives boost to advisor training

A training program aimed at producing the next generation of financial advisors has received an important shot in the arm. The province of Ontario has officially recognized Seneca College’s Financial Services Practitioner program under the Ministry of Colleges, Training and Universities. While the industry itself ages, there are fewer young advisors coming into the market, […]

By Steven Lamb |June 4, 2008

3 min read

Decorative pattern

On The Shelf:

(June 3, 2008) CI Investments Inc. has teamed up with the Bank of Nova Scotia to launch a new principal protected note that offers double exposure to a portfolio of equity and income securities. The return on Bank of Nova Scotia — CI 2X Deposit Notes, Series 1, will be linked to the performance of […]

By Staff |June 3, 2008

1 min read

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